1 point 2 points 3 points 4 points 5 points choc. creme 1 point 4 points 3 points 2 points2 points 3...

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  • Slide 1
  • Slide 2
  • Slide 3
  • Slide 4
  • 1 POINT 2 POINTS 3 POINTS 4 POINTS 5 POINTS Choc. Creme 1 POINT 4 POINTS 3 POINTS 2 POINTS2 POINTS 3 POINTS 2 POINTS 5 POINTS 2 POINTS 3 POINTS 4 POINTS 5 POINTS 4 POINTS 3 POINTS 4 POINTS 5 POINTS GlazedJelly Boston Creme Cruller
  • Slide 5
  • These are the 4 basic financial statements. 1 POINT
  • Slide 6
  • What is Income statement, Retained Earnings statement, Balance Sheet And Stmt of Cash Flows
  • Slide 7
  • This is the section of the cash flows statement where you would find a bond issuance. 2 POINTS
  • Slide 8
  • What is the financing section?
  • Slide 9
  • Non cash transactions would be show in this part of the statement of cash flows 3 POINTS
  • Slide 10
  • It would be on a separate schedule.
  • Slide 11
  • 4 POINTS This is the section of the cash flows statement where you would find a land sale.
  • Slide 12
  • What is the investing section
  • Slide 13
  • This is the section of the cash flows statement where you would find amortization 5 POINTS
  • Slide 14
  • Operating
  • Slide 15
  • This is the section of the cash flows statement where you would find a gain on the sale of investments 1 POINT
  • Slide 16
  • Operating
  • Slide 17
  • This is the section of the cash flows statement where you would find the cash inflow from a sale of another companys common stock. 2 POINTS
  • Slide 18
  • Investing
  • Slide 19
  • A/R increase added or subtracted from NI 3 POINTS
  • Slide 20
  • Subtracted
  • Slide 21
  • This is the section of the cash flows statement where you would report dividends paid. 4 POINTS
  • Slide 22
  • Financing
  • Slide 23
  • Cash dividends payable were $20,000 and $28,000 at the beginning and end of the year, $50,000 in dividends were declared during the year, what is the cash outflow for payment of dividends. 5 POINTS
  • Slide 24
  • What is 42,000?
  • Slide 25
  • Increase in wages payable add or subtract from net income. 1 POINT
  • Slide 26
  • add
  • Slide 27
  • Increase in Inventory 2 POINTS
  • Slide 28
  • subtract
  • Slide 29
  • Increase in prepaid expenses. 3 POINTS
  • Slide 30
  • Subtract
  • Slide 31
  • 4 POINTS Depreciation expense
  • Slide 32
  • Add
  • Slide 33
  • Decrease in Cash 5 POINTS
  • Slide 34
  • Nothing
  • Slide 35
  • Comparing individual items in financial statements from one year to the next is this type of analysis. 1 POINT
  • Slide 36
  • Horizontal
  • Slide 37
  • An analysis where all assets are stated as a component of total assets. 2 POINTS
  • Slide 38
  • Vertical analysis
  • Slide 39
  • This analysis is used when comparing different size companies in the same industry. 3 POINTS
  • Slide 40
  • What is common-size statement analysis?
  • Slide 41
  • What is the formula for horizontal analysis. 4 POINTS
  • Slide 42
  • (CY-LY)/LY
  • Slide 43
  • 5 POINTS This is a short term asset not included in the acid test ratio
  • Slide 44
  • What is prepaid accounts and inventory?
  • Slide 45
  • An increase in the collection of A/R will cause the A/R turnover ratio to ? 1 POINT
  • Slide 46
  • What is increase?
  • Slide 47
  • A good auditors report is called a _____ opinion. 2 POINTS
  • Slide 48
  • What is clean or unqualified?
  • Slide 49
  • An auditors report where they cant give an opinion due to the lack of data available is called a ____.. 3 POINTS
  • Slide 50
  • What is disclaimer?
  • Slide 51
  • The purpose of an audit is to: 4 POINTS
  • Slide 52
  • Render an opinion on the fairness of financial statements.
  • Slide 53
  • This is where management gives their opinion of the financial statements and can be completely biased. 5 POINTS
  • Slide 54
  • What is MD&A
  • Slide 55
  • Slide 56
  • CATEGORY: Cash Flows MAKE YOUR WAGER!
  • Slide 57
  • ANSWER: Net Income $200,000 Loss on Sale of land $30,000 Amortization $10,000 A/R increase $30,000 Inventory decrease $18,000 A/P decrease $20,000
  • Slide 58
  • QUESTION $208,000

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