Net cash provided by operating activities
a. Current cash debt coverage ratio =
Average current liabilities
= = = 3.9 : 1
($12,000 + $20,000) 2
Net cash provided by operating activities
b. Cash debt coverage ratio =
blossom corporation reproted the followng
cost of good sold
selling and administrative espenses
unrealized holdng gain on avai. For sale securities
prep a comprehensive income statement
Indicate whether each of the following is true (T) or false (F) in the space provided. _ 1.
(L.O. 1) The essential characteristics of accounting include identification and
measurement. _ 2. (L.O. 1) Financial accounting is the process that
Craftsman Corporation began operations on January 1, 2017 when $200,000
was invested by shareholders of the company. On March 1, 2017, Craftsman
purchased for cash $120,000 of equity securities that it classified as
available-for-sale. During the year, th
CHAPTER REVIEW 1.
Chapter 1 describes the environment that has influenced both the development and use of the
financial accounting process. The chapter traces the development of financial accounting
standards, focusing on the groups that have had or curre
Seasalt Corporation had net sales of $4,250,000 and interest revenue of
$84,000 during 2017. Expense for 2017 were cost of goods sold $2,980,000;
selling expenses $462,000; administrative expenses 560,000; and interest
expense $26,500. Seasalt's tax rate
Pr. 5-119Balance sheet presentation.
Given the following account information for Leong Corporation, prepare a balance sheet in
report form for the company as of December 31, 2012. All accounts have normal balances.
Statement of cash flows preparation.
Selected financial statement information and additional data for Stanislaus Co. is presented
below. Prepare a statement of cash flows for the year ending December 31, 2012
Ex. 5-112Balance sheet classifications.
Typical balance sheet classifications are as follows.
a. Current Assets
c. Plant Assets
d. Intangible Assets
e. Other Assets
f. Current Liabilities
Provide clear, concise answers for the following.
1. What are assets?
2. What are liabilities?
3. What is equity?
4. What are current liabilities?
5. Explain what working capital is and how it is computed.
6. What are intan
BALANCE SHEET AND STATEMENT OF CASH FLOWS
IFRS questions are available at the end of this chapter.
Ex. 5-111Valuation of Balance Sheet Items.
Use the code letters listed below (a l) to indicate, for each balance sheet item (1 13) listed
below the usual valuation reported on the balance sheet.
Long-term bonds payable
Statement of cash flows.
For each event listed below, select the appropriate category which describes the effect of the
event on a statement of cash flows:
a. Cash provided/used by operating activities.
b. Cash provided/used by investing activities.
valves of a and b
V +2 H e
= _ b = _
(c) Figure 15 below shows the features of a diffusion cloud chamber used for
from radioactive sources.
Source of light
Felt soaked in
(v) State one advantage of the cloud chamber over a charged leaf electroscope when
detectors of radiations
A student connected a circuit as shown in figure 16 below hoping to produce a
rectified out put
Why is a thick copper block used at the anode
(ii) State how the strength of the X-rays can be increased.
(iii) X-ray tube operates at 1000KV between the cathode and the anode. Calculate the
maximum energy of the X-ray pho
At the end of the month, Mason needs to make the following adjusting journal entries. Please record these a
"journal entries", "T-Accounts", and "Trial Balance" tabs and prepare a single-step and multiple step income
Transaction #10 : One
Mason Yachts, a boat manufacturing company, begins business on 1/1/2016. Mason specializes in selling an
trial balance accounts can be found in "trial balance" tab below. For the transactions below, please record t
Entries" tab and update the balances in
Summary of APA Style for Citations/References
If you are using source materials, references in your case analysis papers, you need
to use proper citation. I prefer the APA style. Below are examples of how to cite
various sources. Please refer to these exa
reduction of environmental damage; and
water supply or disposal.
With effect from 1.7.1999, Workshop Machinery used for the
maintenance of machinery used for manufacture qualify for investment
With effect from 1.7.2000, power generation equipm
Wear and tear deduction:
Total amount to be deducted in the Income Tax Computation
Trading receipt of Shs 5,000 is taxable and is added back in Tax
1. Mercedes Benz s
a) The benefit, advantage, or facility arising from employment. These are
taxed if they aggregate (total) in value to (Kshs 36,000) or more in a year
The benefits that are taxed are:
Facilities e.g. free lunch, transport, gift by emplo
Low interest rate employment benefit:
The benefit is the difference between the interest charged by the employer and
the prescribed rate of interest.
Other benefits, for example servants, sec