ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 66

Average Total Liabilities

80,000

Average Current Liabilities

36,000

Cash Provided by Operations
Cash Sales
Capital Expenditures
Dividends Paid

48,000
130,000
22,000
6,000

What is the current cash debt coverage?
Question 18
Which of the following income statement figures would probably be
the best indicator of a company‘s future performance?
Question 19
Which one of the following is not a benefit of budgeting?
Question 20
The single most important output in preparing financial budgets is the
Question 21
Zoum Corporation had the following transactions during 2014:
1 - Issued $125,000 of par value common stock for cash.
2 - Recorded and paid wages expense of $60,000.
3 - Acquired land by issuing common stock of par value $50,000.
4 - Declared and paid a cash dividend of $10,000.
5 - Sold a long-term investment (cost $3,000) for cash of $3,000.
6 - Recorded cash sales of $400,000.
7 - Bought inventory for cash of $160,000.