1.

Yi Company began operations on January 1, 2013. During 2013, the company engaged in the following cash transactions: 1) issued stock for $66,000 2) borrowed $38,000 from its bank 3) provided consulting services for $64,000 4) paid back $28,000 of the bank loan 5) paid rent expense for $15,500 6) purchased equipment costing $25,000 7) paid $4,300 dividends to stockholders 8) paid employees' salaries, $34,000

What is Yi's net cash flow from investing activities?

Outflow of $51,300

Outflow of $25,000

Inflow of $41,000

Inflow of $66,000

2.

Yi Company began operations on January 1, 2013. During 2013, the company engaged in the following cash transactions: 1) issued stock for $48,000 2) borrowed $29,000 from its bank 3) provided consulting services for $46,000 4) paid back $19,000 of the bank loan 5) paid rent expense for $11,000 6) purchased equipment costing $16,000 7) paid $3,400 dividends to stockholders 8) paid employees' salaries, $25,000

What is Yi's cash flow from financing activities?

Outflow of $19,000

Inflow of $44,600

Outflow of $3,400

Inflow of $54,600

3.

James Company paid $4,800 for one year's rent in advance beginning on October 1, 2013. James's 2013 income statement would report rent expense, and its statement of cash flows would report cash outflow for rent, respectively, of

$1,200; $1,200

$800; $4,800

$1,200; $4,800

$4,800; $4,800

4.

Osborn Company's unadjusted book balance at June 30, 2014 is $15,000. The company's bank statement reveals bank service charges of $75. Two credit memos are included in the bank statement: one for $1,800 which represents a collection of an account receivable that the bank made for Osborn and one for $20 which represents the amount of interest that Osborn had earned on its interest-bearing checking account in June. Based on this information, Osborn's true cash balance is:

$15,000.

$16,745.

$16,820.

$16,895.

5.

On August 1, 2014, Miles Company accepted from another company a one-year note receivable with a face amount of $7,500 and an interest rate of 10%. What would be the total amount of assets (related to the note receivable) reported on Muller's balance sheet dated December 31, 2014? (Round your final answer to the nearest whole dollar amount.)

$8,250

$7,813

$7,938

$7,500

6.

On June 1, 2014, Siebens Enterprises loaned $27,500 to Tyler Company for one year at 6 percent interest. Under the terms of the promissory note, Tyler will repay the principal and pay one year's interest on May 31, 2015. Related to this note receivable, what amount of interest income would Siebens report on its 2015 income statement? (Round your final answer to the nearest whole dollar amount.)

$688

$825

$0

$1,650

7.

Leland Co. paid $1,200,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $234,000, Building, $754,000, and Office Furniture, $312,000. Based on this information the cost that would be allocated to the land is: (Do not round intermediate calculations.)

$173,880.

$216,000.

$265,298.

$234,000.