ACC 421 Week 4 Individual Assignment Full Disclosure Paper( 2 Paper)
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 payable 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)
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ACC 421 Week 4 Individual Assignment Full Disclosure Paper( 2 Paper)