Question
5. In general, the order of reporting stockholders' equity on the balance sheet is: A.Common Stock, Preferred Stock, Paidsin Capital in Excess of Par, Retained
5. In general, the order of reporting stockholders' equity on the balance sheet is:
A.Common Stock, Preferred Stock, Paidsin
Capital in Excess of Par, Retained Earnings, Treasury Stock.
B.Preferred Stock, Common Stock,
Paidin Capital in Excess of Par, Retained Earnings, Treasury Stock.
C.Retained Earnings, Preferred Stock, Common Stock,
Paidin Capital in Excess of Par, Treasury Stock.
D.Preferred Stock, Common Stock, Treasury Stock,
Paidin Capital in Excess of Par, Retained Earnings.
6. In 2019, Chen Corporation purchased treasury stock with a cost of $51,000. During the year, the company declared and paid dividends of $8,000 and issued bonds payable for $1,200,000. Net cash provided by financing activities for 2019 is:
A.$1,200,000.
B.$1,149,000.
C.$1,141,000.
D.$1,192,000.
7. In 2019, Forever Young, Inc. sold land for $110,000 cash, purchased equipment for $21,000
cash and issued bonds for $80,000 cash. The Net cash provided by investing activities is:
A.$89,000.
B.$131,000.
C.$190,000.
D.$169,000.
8. Mary Andrews, Inc. had the following transactions:
Cash proceeds on sale of land | $430,000 |
Cash proceeds on sale of equipment | 170,000 |
Purchase of treasury stock with cash | 45,000 |
Purchase of equipment with cash | 45,000 |
Issuance of common stock for cash | 70,000 |
On a statement of cash flows prepared under the indirect method, Net cash provided by investing activities is:
A.$510,000.
B.$600,000.
C.$555,000.
D.$580,000.
9. Anew Health Care Company reports net income of $210,000 and Depreciation Expense of
$16,000 for the year ending December 31, 2019. No longterm
assets were sold or exchanged during 2019. They also have the following data available:
December 31, 2019 | December 31, 2018 | |
Current Assets: | ||
Cash | $29,000 | $85,000 |
Accounts Receivable | $155,000 | 99,000 |
Inventory | $103,000 | 68,000 |
Total Current Assets | $287,000 | $252,000 |
Current Liabilities: | ||
Accounts Payable | $54,000 | $39,000 |
Salaries Payable | 44,000 | 94,000 |
Total Current Liabilities | $98,000 | $133,000 |
Using the indirect method, what is the net cash provided by operating activities for the year ending December 31, 2019?
A.$191,000
B $100,000
C.$68,000
D.$ 135,000
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