DEVRY-FI504-MT-GUIDANCE - FI504 Midterm Exam Guidance...

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FI504 Midterm Exam Guidance Page-1: MCQ-5: Total collection 130,000 Less Salary paid 70,000 Less Utility 6,000 Paid $70,000 for salaries. Paid $20,000 to purchase office equipment. Paid $6,000 for utilities. Paid $7,000 in dividends. Collected $130,000 from customers. What was Jamie's net cash provided by operating activities MC-8: Gross cost of plant assets used - accumulated depreciation: These are selected account balances on December 31, 2007. -Land (location of the corporation's office building) $200,000 -Land (held for future use) 300,000 -Corporate Office Building 1,200,000 -Inventory 400,000 -Equipment 900,000 -Office Furniture 200,000 -Accumulated Depreciation 600,000 What is the total NET amount of property, plant, and equipment that will appear on the balance sheet MC-9: Net Income / # of shares For 2007 Mossland Corporation reported net income of $28,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share? (Chapter 2, pages 55-57) (Points: 3)
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DEVRY-FI504-MT-GUIDANCE - FI504 Midterm Exam Guidance...

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