ACC 291 Final Exam Question Answers

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Multiple Choice Question 80 Zoum Corporation had the following transactions during 2014: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $10,000. 5. Sold a long-term investment (cost $3,000) for cash of $3,000. 6. Recorded cash sales of $400,000. 7. Bought inventory for cash of $160,000. 8. Acquired an investment in Zynga stock for cash of $21,000. 9. Converted bonds payable to common stock in the amount of $500,000. 10. Repaid a 6 year note payable in the amount of $220,000. What is the net cash provided by financing activities? $395,000. $. $. $115,000. Click here to download Instantly ACC 291 Entire Course Multiple Choice Question 176 Colie Company had an increase in inventory of $120,000. The cost of goods sold was $490,000. There was a $30,000 decrease in accounts payable from the prior period. Using the direct method of reporting cash flows from operating activities, what were Colie's cash payments to suppliers? $580,000. $370,000. $310,000.
$640,000. IFRS Multiple Choice Question 04 Each of the following items may be classified as operating or financing activities under IFRS except dividends paid. dividends received. interest paid. (Incorrect) all of these answer choices may be classified as such. Click here to download Complete Answers of ACC 291 Week 5 Complete Multiple Choice Question 165 The current assets of Orangatte Company are $227,500. The current liabilities are $130,000. The current ratio expressed as a proportion is 1.75:1. 175%. $210,000 ÷ $120,000. .57:1. Multiple Choice Question 41 All of the following requirements about internal controls were enacted under the Sarbanes Oxley Act of 2002 except: independent outside auditors must eliminate redundant internal control. companies must continually assess the functionality of internal controls. independent outside auditors must attest to the level of internal control. companies must develop sound internal controls over financial reporting. Want to see the Final Exam Questions..?? Click ACC 291 Final Exam Answers
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ACC 291 Final Exam Question Answers

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