Questions from Financial Accounting


Q: Consider the following transactions: / Identify the

Consider the following transactions: Identify the category of the statement of cash flows, indirect method, in which each transaction would be reported.

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Q: The statement of cash flows categorizes like transactions for optimal reporting.

The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a (n): • Operating activity—addition to net income (O+) or subtraction from net income (O-) • Inv...

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Q: The records of Vintage Color Engraving reveal the following:

The records of Vintage Color Engraving reveal the following: Compute cash flows from operating activities by the indirect method for year ended December 31, 2018.

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Q: Moss Exports is having a bad year. Net income is only

Moss Exports is having a bad year. Net income is only $60,000. Also, two important overseas customers are falling behind in their payments to Moss, and Moss’s accounts receivable are ballooning. The c...

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Q: The accounting records of CD Sales, Inc. include the following

The accounting records of CD Sales, Inc. include the following accounts: Compute CD’s net cash provided by (used for) operating activities during July 2018. Use the indirect method...

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Q: The income statement of Boost Plus, Inc. follows:

The income statement of Boost Plus, Inc. follows: Additional data follow: a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash and $16,000 by signing a note payable....

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Q: Consider the following facts for Java Jolt: a. Beginning

Consider the following facts for Java Jolt: a. Beginning and ending Retained Earnings are $45,000 and $70,000, respectively. Net income for the period is $60,000. b. Beginning and ending Plant Assets...

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Q: Rouse Exercise Equipment, Inc. reported the following financial statements for

Rouse Exercise Equipment, Inc. reported the following financial statements for 2018: Requirements: 1. Compute the amount of Rouse Exercise’s acquisition of plant assets. Assume the...

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Q: Use the Rouse Exercise Equipment data in Exercise E14-23.

Use the Rouse Exercise Equipment data in Exercise E14-23. Prepare the company’s statement of cash flows—indirect method—for the year ended Decembe...

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Q: Dirt bikes, Inc. identified the following selected transactions that occurred

Dirt bikes, Inc. identified the following selected transactions that occurred during the year ended December 31, 2018: a. Issued 750 shares of $3 par common stock for cash of $17,000. b. Issued 5,100...

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