1) Christopher Corp. is preparing its statement of cash flows using the indirect method. It provides the following information about transactions for the year:

Plant assets, netbeginning balance: $111,000

Plant assets, netending balance: $148,000

Equipment was purchased for $65,000.

Equipment with a net asset value of $12,000 was sold for $18,000.

Depreciation Expense of $16,000 was recorded during the year.

What was the amount of net cash provided by (used for) investing activities?

A) $(47,000)

B) $47,000

C) $(63,000)

D) $(39,000)

2) TRUE OR FALSE:

Horizontal analysis compares each item in the income statement to the net sales amount.

The future value is the bond's market price.

Usually a company does not know the amount of the year-end bonus at year-end.

3) MULTIPLE CHOICE:

Which of the following is included in the entry to record the employer's payroll taxes?

A) a debit to State Unemployment Tax Payable

B) a credit to Payroll Tax Expense

C) a credit to FICAOASDI Tax Payable

D) a credit to Salaries Payable

4) For available-for-sale investments, state:

Reporting method used

How unrealized holding gain or loss is reported

Balance sheet effects

Income statement effects

Available-for-Sale Investments:
Reporting method used
How unrealized holding gain or loss is reported
Balance sheet effects
Income statement effects