Quiz 3 Fall 2010 - ACC 311­ Quiz 3...

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Unformatted text preview: ACC 311­ Quiz 3 NAME__________________________________ (4 Points Each) Questions 1­6 For each item/event listed below indicate which cash flow section each would be classified under. Indicate using (O) for Operating, (I) for Investing, (F) for financing. Interest Expense Paid with Cash ___O________ Issue Common Stock/Receive Cash ___F________ Cash Received from Customers ___O________ Purchase of Investments in Securities __I__________ Purchase Equipment with Cash ___I _________ Pay Dividends to Shareholders with Cash ___F ________ Question 7­10 For each balance sheet account listed below indicate which cash flow section each would be classified under (ie the change in that account). Indicate using (O) for Operating, (I) for Investing, (F) for financing. Accounts Receivable ___O________ Long Term Notes Payable ___F________ Inventory ___O________ Prepaid Rent Expense __O_________ Bonus (4 points): Which of the following represents an OUTFLOW of cash in the statement of cash flows as discussed in class? A. Increase in an Asset account B. Increase in Liability account C. Increase in Equity account D. B and C ...
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