C214 wgu| 85 - Study guides, Class notes & Summaries

What is included in the income statement and not on the statement of cash flows? - ANSWERSDepreciation Expense The basic equation for a balance sheet is: - ANSWERSEquity = Assets - Liabilities What is Cash Flow From Operating Activities? - ANSWERSIt is cash flow generated for sale of products and services to customers What is the formula for Retained Earnings? - ANSWERSEnding Retained Earnings = Beginning RE + NI - Dividends Is depreciation and salvage value on an asset precise or is...

What is included in the income statement and not on the statement of cash flows? - ANSWERSDepreciation Expense The basic equation for a balance sheet is: - ANSWERSEquity = Assets - Liabilities What is Cash Flow From Operating Activities? - ANSWERSIt is cash flow generated for sale of products and services to customers What is the formula for Retained Earnings? - ANSWERSEnding Retained Earnings = Beginning RE + NI - Dividends Is depreciation and salvage value on an asset precise or is...

Stocks and bonds are two types of financial instruments (T/F) - Answer True The matching principle in accrual accounting requires that: a. Revenues be recognized when the earnings process is complete and matches expenses to revenues recognized. b. Expenses are matched to the year in which they are incurred c. Revenues are matched to the year in which they are booked d. Revenues should be large enough to match expenses - Answer a A high-quality customer just purchased $500,000 worth of pro...

WGU C214 Practice Test, Questions with accurate answers, 100% Accurate, graded A+ 1. A firm reported the following: Net Income 100,000 Depreciation 25,000 Change in NWC 15,000 What is the CFO (cash flow from operations)? a. 100,000 b. 110,000 c. 120,000 d. (130,000) - -CFO = Net Income + Depreciation - Increase NWC =100,000 + 25,000 - 15,000 2. What is the Cash Flow from Investing? Beginning Net PP&E 50,000 Ending Net PP&E 200,000 Depreciation Expense 40,000 a. (190,000) ...

C214 WGU| 85 2023-2024 Questions | Correct Answers| Verified(SCORED A+)What is included in the income statement and not on the statement of cash flows? - ANSWERSDepreciation Expense The basic equation for a balance sheet is: - ANSWERSEquity = Assets - Liabilities What is Cash Flow From Operating Activities? - ANSWERSIt is cash flow generated for sale of products and services to customers What is the formula for Retained Earnings? - ANSWERSEnding Retained Earnings = Beginning RE + NI - D...