MGMT 210 FINAL REVIEW EXERCISE (EMBRY RIDDLE AERONAUTICAL UNIVERSITY) DOWNLOAD
Chapter 5 Review Key Terms Quiz 1: Merchandise Accounting Quiz 2: Inventory Valuation Chapter 7 Key Term Quiz: Chapter 8 Key Term Quiz: Chapter 9 Key Term Quiz Chapter 10 Key Term Quiz Chapter 11 Key Term Quiz Chapter 12 Key Terms Quiz Warmup Exercise 9-2 A company has the following current liabilities at the beginning of the period: Accounts Payable, $30,000; Taxes Payable, $10,000. At the end of the period, the balances of the account are as follows: Accounts Payable, $20,000; Taxes Payable, $15,000. What amounts will appear in the cash-flow statement? In what category of the statement will they appear? Warmup Exercise 11-1 A company has a Retained Earnings account with a January 1 balance of $500,000. The accountant has reviewed the following information for the current year: Increase in cash balance $50,000 Net income 80,000 Dividends declared 30,000 Dividends paid 20,000 Decrease in accounts receivable balance 10,000 Required
Calculate the ending balance of the Retained Earnings account. Warmup Exercise 11-2 A company begins business on January 1 and issues 100,000 shares of common stock. On July 1, the company declares and issues a 2-for-1 stock split. On October 15, the company purchases 20,000 shares of stock as treasury stock and reissues 5,000 shares by the end of the month. Required Calculate the number of shares issued and the number of shares outstanding as of the end of the first year of operations. Warmup Exercise 12-1 Purpose of the Statement of Cash Flows Most companies begin the statement of cash flows by indicating the amount of net income and ending it with the beginning and ending cash balances. Why is the statement necessary if net income already appears on the income statement and the cash balances can be found on the balance sheet? Warmup Exercise 12-2 Classification of Activities For each of the following activities, indicate whether it should appear on the statement of cash flows as an operating (O), investing (I), or financing (F) activity. Assume that the company uses the direct method of reporting in the Operating Activities section. Warmup Exercise 12-3 Adjustments to Net Income with the Indirect Method Assume that a company uses the indirect method to prepare the Operating Activities section of the statement of cash flows. For each of the following items, indicate whether it would be added to net income (A), be deducted from net income (D), or not be reported in this section of the statement under the indirect method (NR).