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COMMERCE 1AA3 Study Guide - Quiz Guide: Cash FlowExam

Course Code
Emad Mohammad
Study Guide

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COMMERCE 1AA3- October 3, 2018
Week 4
Accounting Quiz 3 Corrections
The balance in Common Shares on January 1, 2017, and December 31, 2017, is respectively
$145,000 and $172,500. During the year, $57,000 repurchase of shares was recorded. During
the year, shares were issued. The proceeds from the issue of shares amounted to:
A. $84,500
B. $64,500
C. $260,500
D. $29,500
On an indirect method statement of cash flows, the purchase of machinery in exchange for
common shares is:
A. shown in the schedule of noncash investing and financing activities which
accompanies the statement of cash flows
B. ignored
C. reflected in the investing activities section
D. reflected in the operating activities section
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