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Unformatted text preview: 70-122 Fall 2007 Name_______________Introduction to Accounting Section_____________Professor Nan Quiz 2Instructions: This is a close-book, close-notes quiz. You are allowed to use a non-programming calculator. There are two required parts with totally 100 points (Part I and II). Partial credits will be awarded for Part II. Make sure your name and section are legible and your answer is neatly presented.Part I: Circle the right answer (30 points)1. Shadyside Co. lent a $30,000 loan to Oakland Co. as a note receivable. The $30,000 is cash flow from _______activities for Shadyside and cash flow from ______activities for Oakland.A. operating, investingB. investing, financingC. financing, financingD. operating, financing2. Suppose that Kinko realizes a $500 loss on the sale of a printer. The printer has been in use for 2 years. If the printer is sold for $2,000, and each years depreciation expense for that printer is $500, what is the historical cost (purchasing price) of this printer?...
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- Fall '07