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. 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