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MGT201 - Test _1 - winter 2010

# MGT201 - Test _1 - winter 2010 - University of Toronto...

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University of Toronto Faculty of Arts & Science February 23, 2010 MGT120 H1S Financial Accounting I Duration: 1 hour 50 minutes Aids allowed: Non-programmable calculator Instructions: Please print your name, student number day and time of class in the spaces provided below There are fifteen multiple choice questions and three problems. Please use the space provided below for your answer to the multiple choice questions. You must use a pen. Do not use WHITEOUT . Clearly show all computations in order to obtain full marks for the problems. ------------------------------------------------ -------------------------------------------- - Student name (LAST NAME FIRST) Student number Marks: Answers to the Multiple Choice Questions Part A (15marks) 1.______ 11.______ Part B (10 marks) 2.______ 12.______ Part C (10 marks) 3.______ 13.______ Part D (10 marks) 4.______ 14.______ Total (45 marks) 5.______ 15._____ 6.______ 7.______ 8.______ 9.______

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10.______ 2
Part A ( 15 marks) 1.The sales terms for a company are 25 percent down and the balance due by the end of the following month. Sales for January, February and March were \$10,000, \$12,000 and \$12,500 respectively. The cash collections from operations for the month of February would be closest to? a. \$5,500 b. \$7,500 c. \$10,500 d. \$12,000 2.Which of the following would not be an example of a financing activity on the cash flow statement? 3.Given the following activities: Payment of cash dividends to shareholders \$ 75,000 Payment of interest on debt 35,000 Purchase of machinery 175,000 Payment on mortgage payable 200,000 Payment to suppliers 65,000 Purchase of short-term marketable securities 15,000 The cash outflows for investing and financing activities were:

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MGT201 - Test _1 - winter 2010 - University of Toronto...

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