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10. 10-In a statement of cash flows, interest payments to lenders and other creditors should be classified as cash outflows for 11. 11-Which of the following items is included in the financing activities section of the statement of cash flows? 12. 12-In year 2 a tornado completely destroyed a building belonging to Holland Corp. The building cost $100,000 and had accumulated depreciation of $48,000 at the time of the loss. Holland received a cash settlement from the insurance company and reported an extraordinary loss of $21,000. In Holland’s year 2 cash flow statement, the net change reported in the cash flows from investing activities section should be a 13. At what amount should Mont’s net assets be reported in the December 31, year 2 balance sheet? 14. In JB Company's December 31, year five Balance Sheet, what amount should be reported as total retained earnings? 15. 15-What was Redwood's quick ratio? 16. In JB Company's December 31, year five Balance Sheet, what amount should be reported as current assets? 17. 17-Which of the following facts concerning inventories should be disclosed in the summary of significant accounting policies? 18. 18-Abbey Corporation prepares its financial statements in accordance with IFRS. Abbey acquired equipment by signing a $100,000 note pay able with the seller of the equipment. How should this transaction be reported on the statement of cash flows? 19. 19-Which of the following transactions should be classified as investing activities on an entity’s statement of cash flows? 20. 20-In a statement of cash flows in which the operating activities section is prepared under the indirect method, a gain on the sale of an investment in available-forsale securities should be presented as a(n) ========================================= ACC 421 Week 4 Individual Assignment Full Disclosure Paper (2 Paper)