GNB13eCh15Exam - Garrison 13e Practice Exam Chapter 15...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Garrison 13e Practice Exam – Chapter 15 Print these pages. Answer each of the following questions, explaining your answers or showing your work, as appropriate, and then compare your solutions to those provided at the end of the practice exam. 1 . The Milken Company has the following information about its activities for the current year: Beginning cash balance $ 40,000 Cash collections from customers 50,000 Net income 120,000 Depreciation expense 8,000 Cash paid to suppliers 10,000 Increase in accounts receivable 60,000 Decrease in accounts payable 28,000 Purchase of property, plant and equipment 15,000 Issuance of common stock 4,000 Part (a) Prepare a cash flows statement using the indirect method (Hint: You will not use all of the information provided above.) Part (b) (Complete this part of the problem only if you are responsible for Appendix 15A) Prepare a cash flows statement using the direct method (Hint: You will not use all of the information provided above.)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2. Maricopa Company recorded the following activity for the year just ended:
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/16/2009 for the course ACCT 116B 00138 taught by Professor Seymour during the Fall '09 term at Mesa CC.

Page1 / 5

GNB13eCh15Exam - Garrison 13e Practice Exam Chapter 15...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online