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