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Choc. Creme
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GlazedJellyBoston CremeCruller
These are the 4 basic financial statements.
1 POINT
What is Income statement, Retained Earnings statement,
Balance Sheet
And Stmt of Cash Flows
This is the section of the cash flows statement where you would find a bond
issuance.
2 POINTS
What is the financing section?
Non cash transactions would be show in this part of the statement of cash
flows
3 POINTS
It would be on a separate schedule.
4 POINTS
This is the section of the cash flows statement where you
would find a land sale.
What is the investing section
This is the section of the cash flows statement where you would find amortization
5 POINTS
This is the section of the cash flows statement where you would find a gain on
the sale of investments
1 POINT
This is the section of the cash flows statement where you would find the cash inflow from a sale of another company’s
common stock.
2 POINTS
A/R increase – added or subtracted from NI
3 POINTS
This is the section of the cash flows statement where you would report dividends
paid.
4 POINTS
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
Increase in wages payable – add or subtract from net income.
1 POINT
Increase in Inventory
2 POINTS
Increase in prepaid expenses.
3 POINTS
4 POINTS
Depreciation expense
Decrease in Cash
5 POINTS
Comparing individual items in financial statements from one year to the next is this
type of analysis.
1 POINT
An analysis where all assets are stated as a component of total assets.
2 POINTS
Vertical analysis
This analysis is used when comparing different size companies in the same
industry.
3 POINTS
What is common-size statement analysis?
What is the formula for horizontal analysis.
4 POINTS
5 POINTS
This is a short term asset not included in the acid test ratio
What is prepaid accounts and inventory?
An increase in the collection of A/R will cause the A/R turnover ratio to ?
1 POINT
What is increase?
A good auditor’s report is called a _____ opinion.
2 POINTS
What is clean or unqualified?
An auditor’s report where they can’t give an opinion due to the lack of data available is
called a ____..
3 POINTS
What is disclaimer?
The purpose of an audit is to:
4 POINTS
Render an opinion on the fairness of financial statements.
This is where management gives their opinion of the financial statements and can
be completely biased.
5 POINTS
CATEGORY:
Cash Flows
MAKE YOUR WAGER!
ANSWER:
Net Income $200,000Loss on Sale of land $30,000
Amortization $10,000A/R increase $30,000
Inventory decrease $18,000A/P decrease $20,000
QUESTION
$208,000