2006 session 2 SAMPLE quiz

2006 session 2 SAMPLE quiz - 10,000 Inventory, 1 January...

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Sample MC Cash Flow Questions for Quiz 1 Week 5 Session 2, 2006 The following information was gathered from Sample Ltd. Use the information below to answer the following questions. $ Cash sales 320 Cash collected from accounts receivable 240 Dividends received 150 Dividends paid 105 Interest received 135 Interest paid 140 Cash paid to suppliers 285 Proceeds of sale of investments 320 Issue of shares 445 Issue of debentures 350 Tax paid 465 Wages paid to employees 400 Share buy-back 375 Purchase of property, plant and equipment 110 1. What was the cash flow from operating activities? a. ($765) b. ($445) c. $560 d. $315 2. What was the cash flow from investing activities? a. $210 b. $315 c. ($210) d. $400 1
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The following information is taken from the accounts of Sample2 Ltd for the year ended 31 December 2006: $ Accounts Receivable, 1 January 2006 105,000 Accounts Receivable, 31 December 2006 75,000 Allowance for Doubtful Debts, 1 January 2006 23,000 Allowance for Doubtful Debts, 31 December 2006
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Unformatted text preview: 10,000 Inventory, 1 January 2006 100,000 Inventory, 31 December 2006 100,000 Accounts Payable, 1 January 2006 80,000 Accounts Payable, 31 December 2006 65,000 Credit Sales 310,000 Cash Sales 170,000 Cost of goods sold 425,000 Bad debts expense 22,000 Accounts Receivable, 1 January 2006 105,000 Accounts Receivable, 31 December 2006 75,000 3. What was the cash collected from customers? a. $475,000 b. $305,000 c. $560,000 d. $315,000 4. What was cash paid to suppliers? a. $80,000 b. $425,000 c. $475,000 d. $440,000 2 The net operating profit of Patrick Ltd was $31,000. Depreciation expense was $10,000 and gain on sale of equipment $2000. Accounts receivable increased by $15,000 and inventory decreased by $7000. Accounts payable decreased by $8000. 5. What was the cash flow from operations (use indirect method)? a. $47,000 b. $39,000 c. $25,000 d. $23,000 Also consider: Week 4 preparation and homework questions 3...
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2006 session 2 SAMPLE quiz - 10,000 Inventory, 1 January...

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