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Advanced Accounting Capstone Questions And Answers 100% Verified.
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Advanced Accounting Capstone Questions And Answers 100% Verified.
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Advanced Accounting Capstone QuestionsAnd Answers 100% Verified.
1.kIncomekStatementk
2.kStatementkofkRetainedkEarnings
3.kBalancekSheet
4.kStatementkofkcashkflowsk-
kcorrectkanswer.kkkkWhatkarekthekfourkfinancialkstatementskinkorder?
Netkincomekfromkthekincomekstatementkgoeskonkstatementkofkretainedkearningsk-
kcorrectkanswer.kkkkWhatkiskthekrelationshipkofkthekincomekstatementkandkstatementkofkreta
inedkearnings?
Thekretainedkearningskgoeskonkthekbalanceksheetk-
kcorrectkanswer.kkkkWhatkiskthekrelationshipkbetweenkstatementkofkretainedkearningskandkt
hekbalanceksheet?
Operatingkperformancek-kcorrectkanswer.kkkkWhatkiskthekincomekstatement?
Assets=liabilities+equity-retainedkearningsk-
kcorrectkanswer.kkkkWhatkiskthekbalanceksheet?
Alsokknownkaskretainedkearnings
Stockkactivities,kdividendsk-
kcorrectkanswer.kkkkStatementkofkchangeskinkstockkholderskequity
Itkdoesknotktellkyoukwherekyoukspentkyourkcashk-
kcorrectkanswer.kkkkWhykarekincomekstatementskandkbalanceksheetsknotkenough?
,Accrualkbasiskandkcashkbasiskareknotkrelatedk-
kcorrectkanswer.kkkkWhatkdoeskakstatementkofkcashkflowktellkus?
Theykarek90kdayskorklesskandkshort-term,khighlykliquidk-
kcorrectkanswer.kkkkCashkequivalents
Nok-
kcorrectkanswer.kkkkDoeskakstatementkofkcashkflowkreportkthekcashkpaymentsktokpurchasekc
ashkequivalents
Noktheykarekcombinedkintokonek-
kcorrectkanswer.kkkkDoeskitkreportkthekcashkreceiptskfromksellingkcashkequivalents?
1.kOperating
2.kInvesting
3.kFinancingk-kcorrectkanswer.kkkkThekthreekstatementskofkcashkflowskare:
Thekcashkflowskaffectknetkincome,kcurrentkassets,kcurrentkliabilityk-
kcorrectkanswer.kkkkOperatingkactivities
Receiptskfromkcustomers
Cashkdividendskreceived
Interestkfromkborrowersk-kcorrectkanswer.kkkkOperatingkactivitieskinflows
Salarieskandkwages
Paymentsktoksuppliersk
Taxeskandkfines
Interestkpaidktoklendersk-kcorrectkanswer.kkkkOperatingkactivitieskoutflows
Outflows-kdepreciation,kamortization,kdepletionkandkbadkdebtkexpense
Inflows-kgain/losskonksalekofkinvestmentsk-kcorrectkanswer.kkkkNonkcashkoperatingkitems
DebitkTruckkfork$50,000kandkcreditkcash
Debitkdepreciationkexpensekfork$5,000kandkcreditkADk
Yrk2ksoldkfork42,000
Cashk42,000
Ad.k10000
Creditktruckkfork50,000kandkgainkonksalekfork2,000
Drkbadkdebtkexpensekandkcreditkallowancek-kcorrectkanswer.kkkkSoldktruckkfork$50,000
, Affectsknokcurrentkassetsk-kcorrectkanswer.kkkkInvestingkactivities
Sellingklong-termkproductivekassets
Sellingkinvestmentskinksecurities
Collectingkprincipalkonkloansk-kcorrectkanswer.kkkkInvestingkactivitieskinflows
Purchasingklong-termkproductivekassetsk
Purchasingkequitykinvestmentsk
Purchasingkdebtkinvestmentsk-kcorrectkanswer.kkkkInvestingkactivitieskoutflows
Affectknoncurrentkliabilitieskandkequitykaccountsk-kcorrectkanswer.kkkkFinancingkactivities
Issuingkitskownkequityksecuritiesk
Issuingkbondskandknotes
Issuingkshortkandklongktermkliabilitiesk-kcorrectkanswer.kkkkFinancingkactivitieskinflows
Payingkdividends
Purchasingktreasurykstockk
Payingkownerskwithdrawalsk-kcorrectkanswer.kkkkFinancingkactivitieskoutflows
Retirementkofkdebtkbykissuingkequityksecuritiesk
Conversionkofkpreferringkstockktokcommonkstockk
Purchasekequipmentsk-kcorrectkanswer.kkkkNonkcashkinvestingkandkfinancing
Requireskthatknonkcashkinvestingkandkfinancingkactivitieskbekdisclosedkaskpartkofkthekstate
mentkofkcashkflowsk-kcorrectkanswer.kkkkFullkdiscloserkprincipal
Investingk-kcorrectkanswer.kkkkCollectedkcashkfromksalekandkequipment
Operatingk-kcorrectkanswer.kkkkPaidkemployeeskforksalarieskandkwages
Financingk-kcorrectkanswer.kkkkReceivedkcashkfromkissuingkstock
Financingk-kcorrectkanswer.kkkkPaidkcashkdividends
Operatingk-kcorrectkanswer.kkkkCollectedkcashkfromksaleskonkaccount
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