Chapter 11 and 12 Practice - Name ACCT 1201 Chapter 11 12...

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Name: ________________________________________ ACCT 1201 Chapter 11 & 12 Practice Multiple Choice (2 points each) 1. Assume that Fried and Fabulous sells a fryer (a piece of equipment) that originally cost $12,000 and has accumulated depreciation of $7,500 for $6,000 cash. Which of the following will be the impact of this transaction on the statement of cash flows? a. Increase in operating of $4,500 b. Increase in investing of $4,500 c. Increase in operating of $6,000 and decrease in investing of $1,500 d. Decrease in operating of $1,500 and increase in investing of $6,000 e. None of the above 2. Assume that “The Crepes of Wrath” (“TCOW”), a publicly-traded restaurant specializing in crepes (fancy thin French pancakes), has a charter that authorizes them to sell 850,000 shares. TCOW issued 540,000 shares in their IPO (initial public offering) on 1/1/16 and has subsequently purchased back 45,000 shares to hold as treasury stock. How many shares of TCOW stock are outstanding?
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