Not yet answered Marked out of 1.00 12 Jigw Mazaya Company started the year with total assets of R.O.78,000 and total liabilities of R.0.16,500. During the year, the business recorded R.0.57,600 in catering revenues and R.O.28,800 in expenses. Mazaya issued ordinary shares of R.0.11,700 and paid dividends of R.0.15,000 during the year. Equity changed by what amount from the beginning of the year to the end of the year? Select one O a. R.O.25,500 b. R.O.9,000 c. R.0.33,000 d. R.0.18,000 CLEAR MY CHOICE Not yet answered Marked out of 1.00 13 Jlow Company X has an accounts payable clerk who can only record the purchase entry. The control principle of: Select one .a. Independent internal verification is applied .b. Physical control is applied O .c. Documentation procedures is applied .d. Establishment of responsibility is applied CLEAR MY CHOICE Not yet answered Marked out of 1.00 14 Jlow Which of the following would not be an adjustment ito net income using the indirect method? Select one a. Depreciation Expense b. An increase in Prepaid Insurance c. Amortization Expense O d. An increase in Land CLEAR MY CHOICE 01:34:08 jvall cull 3 Not yet answered Marked out of 1.00 16 Jiga If a check correctly written and paid by the bank for R.O.10,190 is incorrectly recorded on the company's books for R.0.10,910, the appropriate treatment on the bank reconciliation would be to: Select one .a. Add R.0.720 to the book's balance .b. Deduct R.O.4,910 from the book's balance .c. Deduct R.O.720 from the bank's balance d. Subtract R.0.720 from the book's balance CU FARMY CHOICE Not yet answered Marked out of 1.00 17 Jlow The acquisition of land by issuing ordinary shares is Select one a. A non-cash transaction and would be reported in the body of a statement of cash flows b. A cash transaction and would be reported in .the body of a statement of cash flows c. A non-cash transaction which is not reported in the body of a statement of cash flows d. Only reported if the statement of cash flows is .prepared using the direct method CLEAR MY CHOICE Not yet answered Marked out of 1.00 18 Jiga A loss on sale of a plant asset occurs when the proceeds of the sale are: Select one .a. Less than fair value of the asset sold .b. Greater than book value of the asset sold .c. Less than book value of the asset sold .d. Less than residual value of the asset sold CLEAR MY CHOICE Not yet answered Marked out of 1.00 19 Ji gw Mazaya Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, 6/30 R.O. 8,000; Note receivable collected by bank 3,200; Outstanding checks 4,800; Deposits in transit 2,400; Bank service charge 40; NSF check 640. Determine the cash balance per books (before adjustments) for Mazaya Company. Select one .a. R.O. 6,280 .b. R.O. 8,000 .c. R.O. 10,400 .d. R.O. 3,080 CLEAR MY CHOICE Not yet answered Marked out of 1.00 20 JIS On June 30, 2011, Mazaya Company reported a normal cash balance of R.0.2,000. During June, Mazaya made deposits of R.0.17,000 and made disbursements totalling R.0.3,000. What was the cash balance as of June 1? Select one a. R.0.12,000 credit balance b. R.0.16,000 debit balance c. R.O.2,000 debit balance d. R.0.2,000 credit balance CLEAR MY CHOICE Not yet answered Marked out of 1.00 22 Jlow On January 1, 2011, Mazaya Company reported equity of R.0.470,000. During the year, the company paid dividends of R.O.20,000. At December 31, 2011, the amount of equity was R.0.400,000. What amount of net income or net loss would the company report for 2011? Select one a. Net income of R.O.30,000 b. Net loss of R.0.50,000 c. Net income of R.O.10,000 d. Net income of R.O.50,000 CLEAR MY CHOICE Not yet answered Marked out of 1.00 23 Jl Saw A company sells a plant asset which originally cost R.0.210,000 for R.0.182,000 on December 31, 2011. The Accumulated Depreciation account had a balance of R.O.84,000 after the current year's depreciation of R.O.21,000 had been recorded. The company should recognize a Select one .a. R.0.140,000 loss on disposal .b. R.0.56,000 loss on disposal .c. R.0.56,000 gain on disposal .d. R.O.35,000 loss on disposal CLEAR MY CHOICE Not yet answered Marked out of 1.00 24 Jl Sw Mazaya Company has the following information available: Net Income R.O. 37,500; Cash Provided by Operations R.O. 46,500; Cash Sales R.O. 97,500; Capital Expenditures R.0.16,500; Dividends Paid R.O. :4,500. What is Mazaya's free cash flow? Select one a. R.0.25,500 b. R.0.42,000 c. R.0.30,000 d. R.0.16,500 CLEAR MY CHOICE