ACC 556 Midterm Part 1 ( 100 % Correct Answers ) For more course tutorials visit www . tutorialrank . com
8 - Acquired an investment in Zynga stock for cash of $ 21,000 .
9 - Converted bonds payable to common stock in the amount of $ 500,000 .
10 - Repaid a 6 year note payable in the amount of $ 220,000 . What is the net cash provided by operating activities ? Question 22 A critical factor in budgeting for a service firm is to Question 23
If the board of directors authorizes a $ 100,000 restriction of retained earnings for a future plant expansion , the effect of this action is to
Question 24
Which one of the following items is not necessary in preparing a statement of cash flows ?
Question 25
Quincy Corp . earned controllable margin of $ 500,000 on sales of $ 6,400,000 . The division had average operating assets of $ 5,200,000 . The company requires a return on investment of at least 8 %. How much is residual income ?
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ACC 556 Midterm Part 1 ( 100 % Correct Answers ) For more course tutorials visit www . tutorialrank . com