101.
Which of the following accounts appears in the statement of stockholders’ equity?
102.
Which one of the following statements regarding financial reports is correct?
103.
Which of the following best explains the meaning of total stockholders’ equity?
104.
Which of the following statements regarding financial reports is not correct?
105.
Retained earnings at the end of the year is calculated using:
106.
DW has an ending Retained Earnings balance of $51,100. If during the year DW paid
dividends of $4,300 and had net income of $22,500, then what was the beginning Retained
Earnings balance?
107.
The ending Retained Earnings balance of Boomer Inc. decreased by $1.0 million from the
beginning of the year. The company declared a dividend of $5.4 million during the year.
What was the net income for the year?
108.
Given the information below about Thomas Corporation, what was the amount of
dividends the company paid in the current period?
Beginning retained earnings
$54,000
Ending retained earnings
$110,000
Decrease in cash
$10,000
Net income
$84,000
Change in stockholders’ equity
$15,000
1-46
109.
Given the information below about David Corporation, what was the amount of dividends
the company paid in the current period?
110.
For the past five years, Mookie Consulting Services reported the following annual net
income and dividend amounts:
Year
Net Income
Dividends
1
$22,000
$2,000
2
17,000
2,000
3
9,000
1,000
4
14,000
3,000
5
25,000
4,000
If Mookie had Retained Earnings of $88,000 at the end of year 5, what was the company’s
Retained Earnings at the beginning of Year 1?
111.
Sooner Company had a net income of $8,000, $5,000, $12,000, and $10,000 over the first
four years of the company’s existence. If the average annual amount of dividends paid
over the last four years is $3,000, what is the ending retained earnings balance?
112.
Nina Corp. had the following net income (loss) the first three years of operation: $7,100,
($1,600), and $3,600. If the Retained Earnings balance at the end of year three is $1,100,
what was the total amount of dividends paid over these three years?
113.
Aikman Company has paid dividends of $2,410, $0, $1,570 and $1,060 over the first four
years of the company’s existence. If Retained Earnings after year four has an ending
balance of $9,700, what is the average annual amount of net income (loss) over the past
four years for Aikman?
114.
On January 1, Gucci Brothers Inc. started the year with a $492,000 balance in Retained
Earnings and a $605,000 balance in Common Stock. During the year, the company
reported net income of $92,000, paid a dividend of $15,200, and issued more common
stock for $27,500. What is total stockholders’ equity at the end of the year?
115.
The financial statement that represents the accounting equation is the:
116.
The equation best describing the balance sheet is:
117.
The financial statement that represents activity over the entire life of the company is the:
118.
Liabilities are shown in which of the following statements?
119.
Consider the following account balances of the Shattuck Law Firm at the end of the year:
Accounts Payable
$4,400
Salaries Expense
12,800
Cash
1,700
Common Stock
2,400
Service Revenue
8,300
Supplies
4,300
Retained Earnings
1,100
Utilities Expense
5,000
How many of these accounts would appear in Shattuck’s year-end balance sheet?
120.
The two categories of stockholders’ equity usually found in the balance sheet of a
corporation are:
121.
Which of the following is not a balance sheet item?
122.
Which of the following is a balance sheet item?
123.
Which of the following statements is NOT correct about the financial statements?
124.
The balance sheet depicts which of the following equations?
125.
Which of the following financial statements reports a company’s retained earnings?
126.
Which of the following is not a balance sheet item?
127.
Which of the following is not a major section in the statement of cash flows?
128.
Cash paid for which of the following activities would affect the amount reported for
operating cash flows in the statement of cash flows?
129.
How many of the following transactions would affect operating cash flows reported in the
statement of cash flows (all transaction involve cash)?
Borrowed $50,000 from the bank
Purchased $12,000 in supplies
Provide services to customers for $27,000
Paid the utility bill of $750
Purchased a delivery truck for $12,000
Received $25,000 from issuing common stock
130.
Investing cash flows in the statement of cash flows would include which of the following?
131.
FlintCo purchases additional office equipment to better serves its customers. This cash
purchase is reported in the statement of cash flows as what type of activity?
132.
Financing cash flows in the statement of cash flows would include which of the following?
133.
Cash received from bank borrowing would be reported in the statement of cash flows as
what type of activity?
134.
If total change in cash = $44,000, net operating cash flows = $22,000, and net investing
cash flows = ($13,000); then net financing cash flows =
135.
The financial statement(s) that record activity over an interval of time include the: