Quiz Chpts 5 6 WORD Answers Fall 2009

Quiz Chpts 5 6 WORD Answers Fall 2009 -...

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Accounting 350, Fall 2009, Day 1. Houghton Company has the following items: common stock, $720,000; treasury stock, $85,000; deferred taxes, $100,000 and retained earnings, $313,000. What total amount should Houghton Company report as stockholders' equity? A) $848,000. B) $948,000. (720-85+313) C) $1,048,000. D) $1,118,000.
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2. Presented below are data for Antwerp Corp. 2010 2011 2012 Assets, January 1 $2,800 $3,360 ? Liabilities, January 1 1,680 ? $2,016 Stockholders' Equity, Jan. 1 ? ? 2,100 Dividends 560 420 476 Common Stock 504 448 500 Stockholders' Equity, Dec. 31 ? ? 1,596 Net Income 560 448 ?
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A) $ 504. B) $ 560. C) $1,120. (2,800-1,680) D) $1,624. 3. Keisler Corporation reports: Cash provided by operating activities $200,000 Cash used by investing activities (110,000) Cash provided by financing activities 140,000 Beginning cash balance 70,000 What is Keisler's ending cash balance? A) $230,000. B) $300,000. (200-110+140+70) C) $450,000. D) $520,000.
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During 2010 the DLD Company had a net income of $50,000. In addition, selected accounts showed the following changes: Accounts Receivable ($3,000) increase Accounts Payable 1,000 increase Building 4,000 decrease Depreciation Expense 1,500 increase Bonds Payable 8,000 increase What was the amount of cash provided by operating activities? A)
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Quiz Chpts 5 6 WORD Answers Fall 2009 -...

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