AOL and Final Exam Practice Questions with Answers
3 views 0 purchase
Course
Course Accounting
Institution
Course Accounting
AOL and Final Exam Practice Questions with Answers
Stosch Company's balance sheet reported assets of $67,000, liabilities of $20,000 and common stock of $17,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $38,000 and Stosch paid a $19,0...
jackson company had a net increase in cash from op
the year end financial statements of calloway comp
the year end financial statements of calloway com
Written for
Course Accounting
All documents for this subject (1)
Seller
Follow
elsykanja773
Reviews received
Content preview
AOL and Final Exam Practice Questions with Answers
Stosch Company's balance sheet reported assets of $67,000, liabilities of $20,000 and common stock of
$17,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2,
amount to $38,000 and Stosch paid a $19,000 dividend during Year 2, then the amount of net income for
Year 2 was which of the following? - correct answers$27,000
1.
assets - liabilities - common stock = RE end year 1
2.
RE year 2 + dividend - RE end year 1 = NI year 2
Jackson Company had a net increase in cash from operating activities of $8,300 and a net decrease in
cash from financing activities of $1,450. If the beginning and ending cash balances for the company were
$3,300 and $11,600, then net cash change from investing activities was: - correct answersan inflow or
increase of $1,450.
ending cash balance - OA + FA - beginning cash balance = net cash change from IA
The year-end financial statements of Calloway Company contained the following elements and
corresponding amounts: Assets = $28,000; Liabilities = ?; Common Stock = $5,800; Revenue = $12,600;
Dividends = $1,150; Beginning Retained Earnings = $4,150; Ending Retained Earnings = $7,800.
Based on this information, the amount of expenses on Calloway's income statement was - correct
answers$7,800.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller elsykanja773. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.09. You're not tied to anything after your purchase.
