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    "question_id": "10721789",
    "url": "\/study-help\/questions\/1-cash-paid-for-wages-is-an-example-of-an-10721789",
    "question_creation_date_js": "2024-09-14T00:07:29-04:00",
    "question_creation_date": "Sep 14, 2024 12:07 AM",
    "meta_title": "[Solved] 1. Cash paid for wages is an example of a | SolutionInn",
    "meta_description": "Answer of - 1. Cash paid for wages is an example of an operating activity on the statement of cash flows. TRUE OR FALSE 2. Stockho | SolutionInn",
    "meta_keywords": "1,cash,paid,wages,operating,activity,statement,flows,true,false,2,stockholders",
    "question_title_h1": "1. Cash paid for wages is an example of an operating activity on the statement of cash flows. TRUE OR FALSE 2. Stockholders' equity is:",
    "question_title": "1. Cash paid for wages is an example of an operating activity",
    "question_title_for_js_snippet": "1  Cash paid for wages is an example of an operating activity on the statement of cash flows  TRUE OR FALSE 2  Stockholders' equity is  an economic resource controlled by the business  the profit generated by the business  a liability of the business  the owners' claims on the business  3  Which of the following statements about this statement of retained earnings is not correct  Carly Qs Statement of Retained Earnings For the Year Ended December 31, Year 4 Retained Earnings, January 1, Year 4 $ 251,700 Add  Net Income 328,650 Subtract  Dividends (54,600 ) Retained Earnings, December 31, Year 4 $ 525,750 Multiple Choice Retained earnings of $525,750 will appear on the balance sheet as of December 31, Year 4  The net income in the above statement came from the income statement for the year ending December 31, Year 4  The ending retained earnings amount represents the amount of cash at the end of Year 4  Dividends are shown in parentheses because they are distributions of earnings to the stockholders  4  5  A company issues $20 million in new stock  The company later uses this money to acquire a building  What is the effect of these two transactions on the company's accounts  Buildings increases and Common Stock decreases  Buildings increases and Common Stock increases  Cash increases, Buildings increases, and Common Stock increases  Cash decreases, Buildings increases, and Common Stock decreases  6  Which of the following statements about the current ratio is not correct  Multiple Choice A high current ratio suggests good liquidity  The current ratio is used to evaluate a company's ability to pay current obligations  Having more current assets than current liabilities will yield a current ratio less than 1 0  When making comparisons across companies, it's far easier to express the relationship as a ratio  Each of the following independent companies is missing numerical data  Required  Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts  Company Total Revenues $ 61,100 Total Expenses Total Assets Vanilla Co  Chocolate, Inc  Strawberry Co  Net Income (Loss) $ 20,550 (27,800) Total Stockholders' Liabilities Equity $ 34,100 $ 67,100 39,100 40,550 105,500 10,550 132,200 61,100 31,100",
    "question_description": "<p>1. Cash paid for wages is an example of an operating activity on the statement of cash flows.<\/p> <p>TRUE OR FALSE<\/p> <p>2. Stockholders' equity is:<\/p> <ul> <li> <p>an economic resource controlled by the business.<\/p> <\/li> <li> <p>the profit generated by the business.<\/p> <\/li> <li> <p>a liability of the business.<\/p> <\/li> <li> <p>the owners' claims on the business.<\/p> <\/li> <\/ul> <p>3. Which of the following statements about this statement of retained earnings is not correct? <\/p> <table cellspacing=\"0\" cellpadding=\"0\" border=\"0\"> <tbody> <tr> <td colspan=\"5\">Carly Qs<\/td> <\/tr> <tr> <td colspan=\"5\">Statement of Retained Earnings<\/td> <\/tr> <tr> <td colspan=\"5\">For the Year Ended December 31, Year 4<\/td> <\/tr> <tr> <td>Retained Earnings, January 1, Year 4<\/td> <td>$<\/td> <td>251,700<\/td> <td> <\/td> <td> <\/td> <\/tr> <tr> <td>Add: Net Income<\/td> <td> <\/td> <td>328,650<\/td> <td> <\/td> <td> <\/td> <\/tr> <tr> <td>Subtract: Dividends<\/td> <td> <\/td> <td>(54,600<\/td> <td>)<\/td> <td> <\/td> <\/tr> <tr> <td>Retained Earnings, December 31, Year 4<\/td> <td>$<\/td> <td>525,750<\/td> <td> <\/td> <td> <\/td> <\/tr> <tr> <td style=\"vertical-align:middle;\" colspan=\"5\"> <\/td> <\/tr> <\/tbody> <\/table> <p>Multiple Choice<\/p> <ul> <li> <p>Retained earnings of $525,750 will appear on the balance sheet as of December 31, Year 4.<\/p> <\/li> <li> <p>The net income in the above statement came from the income statement for the year ending December 31, Year 4.<\/p> <\/li> <li> <p>The ending retained earnings amount represents the amount of cash at the end of Year 4.<\/p> <\/li> <li> <p>Dividends are shown in parentheses because they are distributions of earnings to the stockholders.<\/p> <\/li> <\/ul> <p>4. <\/p> <p><img style=\"height:78px;width:300px;\" src=\"https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.experts.images\/questions\/2024\/09\/66e50c01b1cdf_84966e50c014d06a.jpg\" alt=\"image text in transcribed\"><\/p> <p>5. A company issues $20 million in new stock. The company later uses this money to acquire a building. What is the effect of these two transactions on the company's accounts?<\/p> <ul> <li> <p>Buildings increases and Common Stock decreases.<\/p> <\/li> <li> <p>Buildings increases and Common Stock increases.<\/p> <\/li> <li> <p>Cash increases, Buildings increases, and Common Stock increases.<\/p> <\/li> <li> <p>Cash decreases, Buildings increases, and Common Stock decreases.<\/p> <\/li> <\/ul> <p>6. Which of the following statements about the current ratio is not correct?<\/p> <p>Multiple Choice<\/p> <ul> <li> <p>A high current ratio suggests good liquidity.<\/p> <\/li> <li> <p>The current ratio is used to evaluate a company's ability to pay current obligations.<\/p> <\/li> <li> <p>Having more current assets than current liabilities will yield a current ratio less than 1.0.<\/p> <\/li> <li> <p>When making comparisons across companies, it's far easier to express the relationship as a ratio.<\/p> <\/li> <\/ul> <p> <\/p>  Each of the following independent companies is missing numerical data. Required: Use your knowledge of the financial statement equations and their interrelationships to fill in the missing amounts. Company Total Revenues $ 61,100 Total Expenses Total Assets Vanilla Co. Chocolate, Inc. Strawberry Co. Net Income (Loss) $ 20,550 (27,800) Total Stockholders' Liabilities Equity $ 34,100 $ 67,100 39,100 40,550 105,500 10,550 132,200 61,100 31,100",
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    "question_posted": "2024-09-14 00:07:29",
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