ACCT 212 Week 7 Quiz
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$20.00
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
- Question: The advantages of a corporation compared to a sole proprietorship or partnership include:
- Question: Preferred stock is called preferred because it usually has two preferences over common stock. These preferences relate to:
- Question: When a company issues 35,000 shares of $3 par value common stock for $30 per share, the journal entry for this issuance would include:
- Question: Environmental Designs issues 5,000 shares of its $1 par value common stock at $18 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
- Question: The issuance of a note payable is classified in the statement of cash flows as a(n):
- Question: The sale of an intangible asset for cash is classified in the statement of cash flows as a(n):
- Question: The net cash flows from operating, investing, and financing activities will equal:
- Question: Depreciation expense is added to net income in the statement of cash flows under the indirect method because:
- Question: Kela Corporation reports net income of $480,000 that includes depreciation expense of $81,000. Also, cash of $52,000 was borrowed on a 4-year note payable. Based on this data, total cash inflows from operating activities are:
- Question: Lense Laboratories' net income was $280,000. Given the account information below, what is the net cash flows from operating activities for Lense Laboratories?
| Instituition / Term | |
| Term | Summer 2021 |
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
