BAO 1101 Study Guide - Quiz Guide: Cash Flow Statement, Income Statement

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29 Jun 2018

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Ques"on Set

Ques"on 1 1 / 1 point

A Balance Sheet / Statement of Financial Posi"on shows :

Cash Inﬂows and Cash Ou"lows. .

Assets, Liabili#es and Owners Equity

Revenue Earned and Expenses Incurred for the period

Revenue Received and Expenses Paid for the period

Ques"on 2 1 / 1 point

An Income Statement / Statement of Financial Performance shows :

Assets, Liabili#es And Owner's Equity

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Cash Inﬂows and Ou"lows

Revenue Earned and Expenses Incurred for the period

Revenue Received and Expenses Paid for the period

Ques"on 3 1 / 1 point

The Equity sec"on of the Balance Sheet usually comprises :

capital and retained proﬁt

cash and retained proﬁt

net proﬁt plus total assets

assets plus liabili#es

Ques"on 4 1 / 1 point

The purchase of non-current assets to operate a business is an example

of :

an adver#sing ac#vity

a ﬁnancing ac#vity

an inves#ng ac#vity

an opera#ng ac#vity

Ques"on 5 1 / 1 point

The accoun"ng assump"on which assumes that a business will con"nue

its opera"on into the foreseeable future is the :

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Related Questions

Identify the effect omitting each of the following items wouldhave on the balance sheet. No adjustment was made for supplies usedup during the month..? Services provided to customers on the lastday of the month were not billed.? An attorney has earned 1/2 of aretainer fee that was received and recorded last month. Noadjustment was recorded for the amount earned.? -assets understatedand and owners equity overstated -assets and owners equityoverstated -liabilities understated and owners equity overstated-liabilities and owners equity understated -assets overstated andowners equity understated assets and owners equity understated-liabilities and owners equity overstated -liabilities overstatedand owners equity understated

The company paid interest expense of $17,400 for 2014 and had anoverall tax rate of 40% for 2014. Complete the statement ofretained earnings forâ 2014, and determine the dividends paid lastyear.

Partial Income Statement Year Ending 2014
Sales revenue	$349,800
Cost of goods sold	$141,900
Fixed costs	$43,100
Selling, general, and administrative expenses	$27,900
Depreciation	$46,000

Partial Balance Sheet 12/31/2013
ASSETS		LIABILITIES
Cash	$16,200	Notes payable	$14,200
Accounts receivable	$27,900	Accounts payable	$18,900
Inventories	$48,200	Long-term debt	$190,000
Fixed assets	$368,000	OWNERS' EQUITY
Accumulated depreciation (-)	$143,200	Retained earnings
Intangible assets	$82,200	Common stock	$132,000

Partial Balance Sheet 12/31/2014
ASSETS		LIABILITIES
Cash	$26,000	Notes payable	$11,900
Accounts receivable	$19,100	Accounts payable	$24,000
Inventories	$53,200	Long-term debt	$162,000
Fixed assets	$448,100	OWNERS' EQUITY
Accumulated depreciation (-)		Retained earnings
Intangible assets	$81,800	Common stock	$182,000

amberleopard677

Use the data from the following financial statements in thepopupâ window, LOADING... . The company paid interest expense of$18,500 for 2014 and had an overall tax rate of 40% for 2014. Findthe cash flow from assets forâ 2014, and break it into its threeâparts: operating cashâ flow, capitalâ spending, and change in networking capital.

ata Table

Partial Income Statement Year Ending 2014
Sales revenue	$350,200
Cost of goods sold	$141,800
Fixed costs	$43,100
Selling, general, and administrative expenses	$28,000
Depreciation	$45,800

Partial Balance Sheet 12/31/2013
ASSETS		LIABILITIES
Cash	$15,800	Notes payable	$13,900
Accounts receivable	$27,900	Accounts payable	$19,100
Inventories	$47,900	Long-term debt	$190,000
Fixed assets	$368,000	OWNERS' EQUITY
Accumulated depreciation	$143,600	Retained earnings
Intangible assets	$82,000	Common stock	$132,000

Partial Balance Sheet 12/31/2014
ASSETS		LIABILITIES
Cash	$26,100	Notes payable	$12,100
Accounts receivable	$19,200	Accounts payable	$24,200
Inventories	$52,800	Long-term debt	$162,100
Fixed assets	$448,100	OWNERS' EQUITY
Accumulated depreciation		Retained earnings
Intangible assets	$82,000	Common stock	$182,000

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BAO 1101 Study Guide - Quiz Guide: Cash Flow Statement, Income Statement

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