Quiz 4 Fall 2011

Quiz 4 Fall 2011 - no other data is needed the net cash...

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ACC 311- Quiz 4 – 8 points each NAME__________________________________              1. Allen Company's 2009 income statement reported total revenues, $850,000 and total expenses (including $40,000 depreciation) of $720,000. The 2009 balance sheet reported the following: accounts receivable—beginning balance, $50,000 and ending balance, $40,000; accounts payable—beginning balance, $22,000 and ending balance, $28,000. Therefore, based only on this information, the 2009 net cash inflow from operating activities was ____________________D. $186,000 2. Thomas Company reported sales revenue of $500,000 and total expenses of $450,000 (including depreciation) for the year ended December 31, 2009. During 2009, accounts receivable decreased by $5,000, merchandise inventory increased by $4,000, accounts payable increased by $6,000, and depreciation expense of $10,000 was recorded. Assuming
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Unformatted text preview: no other data is needed, the net cash inflow from operating activities for 2009 was ____________________D. $67,000. 3. TRUE OR FALSE : A company with a net loss on the income statement will always have a net cash outflow from operating activities. Questions 4-5 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. 4. Interest Expense Paid with Cash ___ O ________ 5. Pay Dividends to our Shareholders with Cash ___ F ________ Questions 6-8 For each item/event listed below indicate if it would be an Inflow or Outflow of cash in the cash flow statement. Indicate using (Out) for Outflow or (In) for Inflow 6. Increase in an Asset account ___ OUTFLOW _______ 7. Decrease in a Liability account ___ OUTFLOW________ 8. Increase in an Equity account ___ INFLOW__________...
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