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Lohmeyer Corporation reports:

Cash provided by operating activities 250,000

Cash used by investing activities -110,000

Cash provided by financing activities 140,000

Beginning cash balance 120,000

What is Lohmeyers ending cash balance?

Select one: 330,000. 550,000. 620,000. 400,000.

Under IFRS, balance sheet is often referred to as the statement of financial position.

Select one: True False

eisler Corporation reports:

Cash provided by operating activities TL200,000

Cash used by investing activities -110,000

Cash provided by financing activities 140,000

Beginning cash balance 90,000

What is Keislers ending cash balance?

Select one: TL540,000. TL320,000. TL250,000. TL470,000.

)Shake Companys inventory experienced a decline in value necessitating a write-down to lower of cost or net realizable value (LCNRV) of 230,000. This amount is material to Shakes income statement and the company follows IFRS. Where should Shake Company report this decline in value according to IFRS?

I. As a loss on the income statement.

II. As a separate component of other comprehensive income on the statement of comprehensive income.

III. As part of cost of goods sold on the income statement.

Select one: Shake must use I, II, or III. Shake must use I, or III. Shake must use I. Shake must use III.

Robust Inc. has the following information related to an item in its ending inventory. Packit (Product # 874) has a cost of 498, a selling price of 536, a cost to complete of 62, and a cost to sell of 28. What is the lower-of-cost-or-net realizable inventory value for Packit?

Select one: 474 446 536 498