KIC000091 - Cash flows from operating activities Cash flows...

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Accounting 284 - Clem Spring 2009 Name University ID Quiz I 15 points Class Time (circle): Row # _---'( ..... OL- _ II am WRITE THE BEST ANSWER TO EACH QUESTION IN THE SPACE PROVIDED. Ll. At the end of2006, CycloneMania Inc. has assets totaling $1,000,000, liabilities of <, $325,000 and contributed capital of $400,000. What is the total amount ofretained earnings - repofted at the end of this year? A) B) cgp $725,000 $325,000 $275,000 $150,000 1M - 72';,000 .. e:» '''''eM, -, -C' 2...:> , 0 CO-\- ,\00, "0 0 I tA 1'2, "'-'0 -: I t if1 L ' -, ~, 1?-2. Which of the following is not a category on the statement of cash flows? \) ~A B) ) D) Cash flows from investing activities Cash flows from fmancing activities
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Unformatted text preview: Cash flows from operating activities Cash flows from producing activities h3. Jordan Corporation purchased new equipment paying for the total amount with a note payable. How would this transaction affect the accounting equation? A) @ D)----VI-2 Assets decrease, liabilities decrease, stockholders' equity is unchanged. Assets increase, liabilities increase, stockholders' equity increases. Assets increase, liabilities increase, stockholders' equity is unchanged. Assets decrease, liabilities decrease, stockholders' equity increases. &lt;OVER&gt;...
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