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Accounting Capstone Questions And Answers 100% Verified.
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Accounting Capstone Questions And Answers 100% Verified.
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Accounting Capstone Questions AndAnswers 100% Verified.
1.rIncomerStatementr
2.rStatementrofrRetainedrEarnings
3.rBalancerSheet
4.rStatementrofrcashrflowsr-
rcorrectranswer.rrrrWhatrarertherfourrfinancialrstatementsrinrorder?
Netrincomerfromrtherincomerstatementrgoesronrstatementrofrretainedrearningsr-
rcorrectranswer.rrrrWhatrisrtherrelationshiprofrtherincomerstatementrandrstatementrofrretaine
drearnings?
Therretainedrearningsrgoesronrtherbalancersheetr-
rcorrectranswer.rrrrWhatrisrtherrelationshiprbetweenrstatementrofrretainedrearningsrandrther
balancersheet?
Operatingrperformancer-rcorrectranswer.rrrrWhatrisrtherincomerstatement?
Assets=liabilities+equity-retainedrearningsr-rcorrectranswer.rrrrWhatrisrtherbalancersheet?
Alsorknownrasrretainedrearnings
Stockractivities,rdividendsr-rcorrectranswer.rrrrStatementrofrchangesrinrstockrholdersrequity
Itrdoesrnotrtellryourwhereryourspentryourrcashr-
rcorrectranswer.rrrrWhyrarerincomerstatementsrandrbalancersheetsrnotrenough?
Accrualrbasisrandrcashrbasisrarernotrrelatedr-
rcorrectranswer.rrrrWhatrdoesrarstatementrofrcashrflowrtellrus?
Theyrarer90rdaysrorrlessrandrshort-term,rhighlyrliquidr-rcorrectranswer.rrrrCashrequivalents
, Nor-
rcorrectranswer.rrrrDoesrarstatementrofrcashrflowrreportrthercashrpaymentsrtorpurchasercas
hrequivalents
Northeyrarercombinedrintoroner-
rcorrectranswer.rrrrDoesritrreportrthercashrreceiptsrfromrsellingrcashrequivalents?
1.rOperating
2.rInvesting
3.rFinancingr-rcorrectranswer.rrrrTherthreerstatementsrofrcashrflowsrare:
Thercashrflowsraffectrnetrincome,rcurrentrassets,rcurrentrliabilityr-
rcorrectranswer.rrrrOperatingractivities
Receiptsrfromrcustomers
Cashrdividendsrreceived
Interestrfromrborrowersr-rcorrectranswer.rrrrOperatingractivitiesrinflows
Salariesrandrwages
Paymentsrtorsuppliersr
Taxesrandrfines
Interestrpaidrtorlendersr-rcorrectranswer.rrrrOperatingractivitiesroutflows
Outflows-rdepreciation,ramortization,rdepletionrandrbadrdebtrexpense
Inflows-rgain/lossronrsalerofrinvestmentsr-rcorrectranswer.rrrrNonrcashroperatingritems
DebitrTruckrforr$50,000randrcreditrcash
Debitrdepreciationrexpenserforr$5,000randrcreditrADr
Yrr2rsoldrforr42,000
Cashr42,000
Ad.r10000
Creditrtruckrforr50,000randrgainronrsalerforr2,000
Drrbadrdebtrexpenserandrcreditrallowancer-rcorrectranswer.rrrrSoldrtruckrforr$50,000
Affectsrnorcurrentrassetsr-rcorrectranswer.rrrrInvestingractivities
Sellingrlong-termrproductiverassets
Sellingrinvestmentsrinrsecurities
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