Jackson company recorded the following cash

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94.Jackson Company recorded the following cash transactions for the year:Paid $135,000 for salaries.Paid $60,000 to purchase office equipment.Paid $15,000 for utilities.Paid $6,000 in dividends.Collected $245,000 from customers.What was Jackson’s net cash provided by operating activities?a.$95,000b.$35,000c.$110,000d.$89,000
96.When expenses exceed revenues, which of the following istrue?
97.Which of the following is an asset?
99.Which of the following financial statements is divided into major categories of operating,investing, and financing activities?
101.Ending retained earnings for a period is equal to beginninga.Retained earnings + Net income + Dividends
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ACCT 201 Chapter 1 Multiple Choice Quiz: Introduction to Financial Statementsb.Retained earnings – Net income – Dividendsc.Retained earnings + Net income – Dividendsd.Retained earnings – Net income + Dividends102.Which of the following statements istrue?
108.Net income will result during a time period when
109.Retained earnings at the end of the period is equal to
113.If the retained earnings account increases from the beginning of the year to the end ofthe year, thena.net income is less than dividends.b.a net loss is less than dividends.c.additional investments are less than net losses.d.net income is greater than dividends.
118.In a study session, a classmate makes this statement “Dividends are listed as expenseson the income statement.” What is yourbestresponse to this statement?

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Term
Spring
Professor
Valix
Tags
Balance Sheet, Multiple Choice Quiz

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