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fall_2008_key_2_website - Multiple Choice Circle answer on...

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A. $ 586,700 B. $ 216,700 C. $ 270,000 D. $ 578,600 E. None of the above A. $ 103,050 B. $ 83,050 C. $ 63,050 D. $ 193,050 E. None of the above A. $ 240,500 B. $ 234,500 C. $ 220,000 D. $ 154,000 E. None of the above A. $ 6.36 B. $ 2.09 C. $ 0.77 D. $ 1.40 E. None of the above would include A. Cash paid for Interest, Cash Paid for Taxes and Cash Paid for Land B. Cash Paid for Working Capital, Cash Paid for Land, and Interest Expense C. Cash Exchanged for Land Multiple Choice Circle answer on exam AND bubble in on scan sheet. (6 poin The next 18 questions refer to Darby and JD = s financial statements. 1) The Total Assets at December 31, 2008 was: 2) The Total Current Liabilities at December 31, 2008 was (be careful!) 3) The Income from Operations was 4) The EPS was 5) The “Supplemental Information” section of the Cash Flow Statement for Darby an
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D. Cash Cash Exchanged for Land E. None of the above describes A. $ 264,000 B. $ 260,000 C. $ 266,000 D. $ 268,000 E. None of the above A. $ 208,100 B. $ 148,100 C. $ 54,100 D. $ 198,100 E. None of the above A. ($ 160,000) B. ($ 260,000) C. ($ 190,000) D. ($ 200,000) E. None of the above A. $ 60,000 B. $ 40,000 C. $ 100,000 D. $ 120,000 E. None of the above A. $ 3,750 B. $ 3,250 C. $ 15,000 D. $ 14,500 E. None of the above 6) The cash paid for wages in 2008 was: 7) On the Cash Flow Statement, the Cash Flow from Operations was 8) On the Cash Flow Statement, the Cash Flow from (Used by) Investing Activities was 9) On the Cash Flow Statement, the Cash Flow from (Used by) Financing Activities was 10) In the “Supplemental Information” section, the Cash Paid for Interest was
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A. $ 5,000 B. $ 71,000 C. $ 66,000 D. $ 61,000 E. None of the above A. $ 234,500 B. $ 1,400,000 C. $ 154,000 D. $ 220,000 E. None of the above of Cash Flows? A. Decrease in Inventory C. Increase in Accounts Payable D. Net Income E. None of the above A. $ 206,700 B. $ 236,700 C. $ 216,700 D. $ 246,700 E. None of the above A. $ 180,000 B. $ 430,000 C. $ 220,000 D. $ 370,000 E. None of the above A. Payment on Note Payable ($ 35,000) B. Issuance of Common Stock $ 80,000 C. Issuance of Common Stock $ 140,000 11) In the “Supplemental Information” section, The Cash Paid for Taxes was 12) For Darby & JD’s, Taxable Income for 2008 was 13) Which of the following will NOT appear in the Operating Activities section of the St B. Add: Accumulated Depreciation 14) Total Current Assets at December 31, 2008 for Darby & JD’s Truck Sales, Inc. was 15) The Net Fixed Assets at December 31, 2008 for Darby & JD’s was 16) For Darby & JD’s, Financing Activities will include
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D. Payment of Interest ($ 15,000) E. None of the above A. $ 30,000 B. $ 15,000 C. $ 10,000 D. $ 55,000 E. None of the above A. Purchase of land ($100,000) B. Sale of equipment $ 10,000 C. Payment for land ($ 40,000) D. Increase in Accumulated Depreciation $60,000 E. None of the above company is C. A service company has no Cost of Goods Sold D. A retail company includes interest in the operating expense section E. There is no difference A. increases total assets. B. decreases total assets. C. decreases the current ratio. D. increases the current ratio. E. both B and C are correct. A. Debits = Credits C. Revenues - Cost of Goods Sold = Gross Margin D. Recording all expenses incurred in generating the revenues of the period E. The same as the book value 17) For Darby & JD’s, the total amount of Accounts Receivable written off during 2008 18) For Darby’s & JD’s, Investing Activities will include 19) The major difference on the income statement between a retail operation and a se A. The owners = equity is shown differently B. A service company =
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