9. Sunland Corp, reported net income for calendar 2023 of $374500. Additional information follows: Depreciation on property, plant and equipment $187400 Loss on impairment of accounts receivable 69450 Purchase of equipment 32650 Interest paid on long-term bonds 17950 Loss on sale of equipment 107350 Based on the above information, the cash provided by operating activities (indirect method) for calendar 2023 is O $789300. O $706050. O $738700, $756650.

11. Sandhill Corp.'s transactions for calendar 2023 included the following: Acquired 50% of Monty Ltd.'s common shares for $93000 cash. Issued 5000 preferred shares in exchange for land with a fair value of $160,000. Issued 11% bonds, par value $199000, due 2023, for $195000 cash. Purchased a patent for $110000 cash. Borrowed $91200 from Bank A. Paid $60600 toward a bank loan with Bank B. Sold long-term investments for $401400. The cash provided by financing activities in 2023 was O $225600. O $296200. O $286200. O $132600.

13. At the end of year 2, the accounting records for a multi-year construction project indicate actual costs incurred to date of $3240000, the end of year 2 the project is and the most recent estimate of total costs of $9520000. Assuming the percentage-of-completion method is used, to one decimal, at Question 26 Multiple Choice 26.0% complete. 27.0% complete. O 32.0% complete. O 34.0% complete.

14. The most popular input measure used to determine the progress toward completion in the event a company qualifies to recognize revenue over a period of time is O cost-to-cost basis. O collection basis. O percentage-of-completion basis. O cost-benefit basis.

15. The actions a company takes to add value are referred to as the O earnings approach. critical event. O earnings process. O risks and rewards of ownership

16. The first step in the revenue recognition process under IFS is O identify the separate performance obligations of the contract. O identify the contract with customers. determine the transaction price. O allocate the transaction price to the separate performance obligations.