ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 67

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)
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