Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
32 Cards in this Set
- Front
- Back
Increases in accounts receivable, inventory and prepaid items must be _________ to (from) net income.
|
|
|
Decreases in accounts payable and accrued liabilities must be __________.
|
|
|
Gains on sales of plant assets should be __________.
|
|
|
Collection of principal on loans belongs in the _________ section.
|
|
|
Purchases of stock of other companies belong in the __________ section.
|
|
|
Collection of interest on loans belong in the _________ section.
|
|
|
Cash paid to purchase treasury stock belongs in the _________ section.
|
|
|
Cash dividends declared but NOT paid should be shown in the _________ section.
|
|
|
To prepare the statement of cash flows, we must have comparative ___________ and a(n) __________ statement.
|
|
|
Under the direct method we are not concerned with the expiration of prepaid items but rather with the ____________ of these items.
|
|
|
Under the indirect method, Accounts Receivable and its related allowance should be ________.
|
|
|
Significant noncash transactions should be disclosed in a _________.
|
|
|
Is a Gain on Sale of an assets Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is an Increase in Accounts Receivable Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is a Decrease in Prepaid Insurance Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is Depreciation Expense Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is an Increase in Accounts Payable Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is Uncollectible accounts expense Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is a Decrease in Wages Payable Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is Amortization of a bond premium Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is an Increase in Inventory Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Is Amortization of a patent Deducted from or Added to Net Income in order to compute cash flow from operations?
|
|
|
Classify – A plant was sold for $550,000
|
|
|
Classify – A profit of 75,000 was reported
|
|
|
Classify – Long-term bonds were retired
|
|
|
Classify – Cash dividends of $420,000 were paid
|
|
|
400,000 shares of preferred stock were sold
|
|
|
A new high-tech robotics unit was purchased
|
|
|
A long-term note payabe was issued
|
|
|
A 50% interest in a company was purchased
|
|
|
A loss for the year was reported
|
|
|
Additional common stock was sold
|
|