Modernist Literature, Week 7, Introduction to Romanticism, 17th Century, Quarter 1

From T.S. Eliot's poem "The Waste Land," which of the following phrases from Part 1 acts as a "hyperlink" or reference to Jesus, disguised on the road to Emmaus?

"I do not find / The Hanged Man" (55)

Where did T.S. Elliot grow up?

America

Which famous Modernist poet helped Eliot establish his poetic career?

Ezra pound

What did C.S. Lewis's professional and academic career mostly focus on?

Medieval philosophy

Why does the art of the Modern Era tend to feel fragmented and depressing?

The artists were trying to make sense of what felt like a broken world.

Many aspects of World War I contributed to the feelings of horror in England. Which of the following are reasons people felt sad and horrified? Choose all that apply.

The high death rate Photographs from the war front

Which of the following statements about the statement of cash flows are correct? (Check all that apply.)

The purpose is to report cash receipts and cash payments during a period. It details the sources and uses of cash.

Other than poetry, what type of art was Yeats heavily involved in?

Theater

What does it mean for a writer to use a subjective perspective?

There is no objective narrator.

Which of the following is not a reason that a corporation would issue preferred stock?

To obtain a tax advantage over corporations with no preferred stock

From Lewis's sermon, "The Weight of Glory," why does Lewis compare Christians to children playing with mud-pies?

To point out they are too easily pleased

Corporations purchase and hold their own stock, known as treasury stock, for several reasons. Identify which of the following is not a reason that a corporation would buy treasury stock.

To reduce the market value of the common shares outstanding

When a corporation purchases shares of its own stock, it is called ________ stock.

Treasury

Which of the following is a way that Modernism impacted the philosophy which came after it?

Valuing skepticism

Which Modern poet did C.S. Lewis admire and share philosophies with as a young man?

W.B. Yeats

Which of the following questions could not be answered from the statement of cash flows?

What are the earnings-per-share of common stock?

The statement of cash flows reports noncash investing and financing transactions in

a note or separate schedule

Information about cash flows can influence decision makers in important ways. Which of the following questions could be answered by the statement of cash flows? (Check all that apply.)

be held at a local institution.

A statement of stockholders' equity lists balances of:

cash dividends retained earnings net income common stock shares

Investing activities are affected by

changes in long-term assets.

In a statement of cash flows, cash received from the sale of a building would be classified under "cash flows from activities."

investing

_______ activities include those transactions and events such as lending and collecting money for notes receivable and cash receipts from sale of short-term investments.

investing

A(n) _______ occurs when the receipts in a category exceed the payments.

net cash inflow

A(n) _____________ activity includes those transactions and events that affect net income, including the purchase of goods and services, cash sales to customers, and payment of operating expenses.

operating

The purchase of goods and services, the sale of goods and services to customers, and costs to operate the business are all reported on the statement of cash flows under activities.

operating

activities include those transactions and events that affect net income.

operating

A net cash ______ occurs when the payments in a category exceed the receipts. Multiple choice question.

outflow

Stock that typically includes preference for receiving dividends and for distribution of corporate assets during a liquidation is called _ stock.

preferred

The account that consists of a company's cumulative net income less any losses and dividends declared since its inception is called _________

retained earnings

is an account that consists of a company's cumulative net income less any losses and dividends declared since its inception.

retained earnings

The information needed to prepare a statement of cash flows could come from all of the following sources, except the:

statement of retained earnings.

The statement of cash flows does not report the following transactions

transactions between cash and cash equivalents

True or false: Preferred stock can be issued to raise money without giving up control.

true

Current liabilities _____ operations, including short-term notes payable and dividends payable are categorized as financing activities.

unrelated to

From Lewis's sermon "The Weight of Glory," what does Lewis argue most modern Christians will say is the highest virtue?

unselfishness

In the computation of basic earnings per share, a company will use the _____.

weighted-average common shares outstanding

Which of the following transactions would be reported under cash flows from operating activities? Select all that apply.

Cash paid for salaries and wages Cash received from sales Cash paid to lenders for interest

A company's cash receipts and cash payments are recorded in the cash account in its general ledger. Which of the following can be determined by analyzing the cash account? (Check all that apply.)

Cash payments on notes Cash payments for equipment Cash receipts from customers

Which of the following would not be reported under financing activities on the statement of cash flows?

Cash received from sale of plant assets

Which of the following philosophies from the Victorian Era impacted the Modern rejection of religion?

Darwin's Theory of Evolution

When T.S. Eliot was young, what was his favorite hobby?

Reading and writing

Information on the statement of cash flows helps users answer all of the following questions except:

Why did the company invest in long-term assets?

There are five important steps to preparing a statement of cash flows. Rank the steps in order from first to last.

1. Compute the net increase or decrease in cash. 2. Compute and report the net cash provided or used by operating activities. 3. Compute and report the net cash provided or used by investing activities. 4. Compute and report the net cash provided or used by financing activities. 5. Compute the net cash flow by combining net cash provided or used by operating, investing, and financing activities and prove the change.

Blink, Inc. has 1,000 shares of $10 par, 5% preferred stock, and 20,000 shares of $10 par common stock issued and outstanding. If the board of directors authorizes a $20,000 dividend, the payment to common shareholders will total $.

19500

Zinc, Inc. has 10,000 shares of $5 par, 5% preferred stock, and 5,000 shares of $10 par common stock issued and outstanding. If the board of directors authorizes a $15,000 dividend, the payments to preferred shareholders will total _________.

2500 Reason: 10,000 shares x $5 x .05 = $2,500.

In C.S. Lewis's life, what was "The Inklings?"

A group of writing friends

What type of stories did C.S. Lewis enjoy as a child?

Animal Stories

What type of job did W.B. Yeats's father have?

Artist

Which of the following degrees did T.S. Elliot earn during his academic career? Choose all that apply.

Bachelor of Arts Master of Arts

From Lewis's sermon, "The Weight of Glory," Lewis exhorts that "There are no ordinary people. You have never talked to a mere mortal." What point is he trying to make?

Because all humans are made to reflect the glory of God, Christians should seek to actively love their neighbors.

Long, Inc. purchased 50 shares of its own $10 par value common stock for $50 per share. The journal entry to record this transaction would include a debit to the Stock account in the amount of $.

Blank 1: Treasury Blank 2: 2500

Avery, Inc. held 100 shares of its own $10 par value common stock purchased for $15 per share. On December 1, Avery sold 10 shares at $15 per share. The journal entry to record the sale of treasury stock would include a (debit/credit) to Treasury Stock in the amount of $.

Blank 1: credit Blank 2: 150

Which of the following transactions would not be classified as an operating activity on the statement of cash flows?

Cash dividends paid to shareholders

Which of the following items would be reported under financing activities on the statement of cash flows? (Select all that apply).

Cash received from issuing notes payable Cash paid to repay debt Cash dividends paid to shareholders

John Kim agrees to contribute equipment with a fair market value of $5,000 in exchange for 100 shares of Rio Inc.'s common stock with a par value of $1 per share. Rio will record this transaction as a credit to which of the following accounts? (Check all that apply.)

Common Stock Paid-in Capital in Excess of Par Value

Which of the following is not one of the five important steps to preparing a statement of cash flows?

Compute the net income

Vanya Inc.'s charter authorizes 1,000 shares of stock at a stated value of $1 per share. Vanya sells 50 shares of stock at its initial offering for $10 per share. The journal entry to record this transaction will include which of the following entries? (Check all that apply.) Multiple select question.

Credit to Paid-In Capital, in Excess of Stated Value for $450. Credit to Common Stock for $50. Debit to Cash for $500.

On May 25, Tyler, Inc. issues 100 shares of $10 par value preferred stock for $5,000 cash. The entry to record this transaction would include a (debit/credit) ________ to the preferred stock account in the amount of _______.

Credit,1,000

Vanya Inc.'s charter authorizes 1,000 shares of stock at a stated value of $1 per share. Vanya sells 50 shares of stock at its initial offering for $10 per share. The journal entry to record this transaction will include which of the following entries? (Check all that apply.)

Debit to Cash for $500. Credit to Paid-In Capital, in Excess of Stated Value for $450. Credit to Common Stock for $50..

Ivers, Inc. purchased 100 shares of its own $10 par value common stock for $20 per share. The journal entry to record this transaction would include which of the following entries?

Debit to Treasury Stock; credit to Cash.

What is the word for the disappointment and anger that comes from finding out something did not turn out as well as expected?

Disillusion

From Lewis's sermon, "The Weight of Glory," Lewis argues that desire is a vice, or a bad part of humanity.

False

In the poem "The Waste Land," Eliot references Ecclesiastes in lines 23-24 which say, "you know only / A heap of broken images... And the dead tree gives no shelter, the cricket no relief." In these lines, what fear does Eliot examine?

Fear of Aging

activities include those transactions and events that affect long-term liabilities and equity, such as obtaining cash from issuing debt and distributing cash to owners.

Financing

Why is the work of C.S. Lewis more hopeful sounding than other Modern Era writers?

His christian Faith

Which of the following emotions inspired Yeats's poem "The Lake Isle of Innisfree"?

Homesickness

In Yeats's poem "The Lake Isle of Innisfree," how does the poet plan to visit Innisfree?

In his mind

The information needed to prepare a statement of cash flows could come from which of the following sources? (Check all that apply.)

Income statement Comparative balance sheets Cash account

A company reported total assets at the end of the previous year of $95,000; including cash of $35,000, accounts receivable of $20,000, and inventory of $40,000. It reported total assets at the end of the current year of $110,000; including cash of $44,000; accounts receivable of $29,000, and inventory of $37,000. Compute the net increase or decrease in cash for the current year.

Increase of $9,000

Which of the following local events had a large impact on Yeats's writings and career?

Irish War of Independence

According to T.S. Eliot's poem, "The Waste Land," why is April "the cruellest month" (1)?

It brings new life

the equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.

It details the sources and uses of cash. The purpose is to report cash receipts and cash payments during a period.

In Eliot's poem "The Waste Land," why does the poem say he "will show you fear in a handful of dust"?

It is a reference to death.

Why is "The Waste Land" considered a good representation of Modern poetry?

It is fragmented and lacks a single structure.

In 1917, Lewis took a break from studying at school in order to...

Join the army

Identify which of the following items is a noncash investing and financing activity that must be reported in a note to the statement of cash flows. (Check all that apply.)

Lease of an asset in a long-term lease transaction Retirement of debt by issuing stock

From Lewis's sermon, "The Weight of Glory," which of the following is a simile that Lewis uses to describe how God approves of those who love Him?

Like a father delighting in his son

What was the term T.S. Eliot gave to his technique of blending and manipulating time between the ancient and modern?

Mythical Method

Jose Garcia agrees to contribute land with a fair market value of $10,000 in exchange for 200 shares of Damian Inc.'s common stock with a par value of $10 per share. The journal entry to record this transaction in the books of Damian, Inc., will include a credit to _________ in the amount of _______.

Paid-in Capital, in Excess of Par; $8,000

A company's cash receipts and cash payments are recorded in the cash account in its general ledger. Identify which of the following could not be determined by analyzing the cash account?

Payment for land by issuing a note

In Yeats's poem "The Lake Isle of Innisfree," which of the following words best describes the life the poet imagines at Innisfree?

Peaceful

What is the term for the next large philosophical movement after Modernism?

Postmodernism

Which of the following items are classified as noncash investing and financing activities? (Check all that apply.)

Retirement of debt by issuing stock Lease of assets in a long-term lease transaction Conversion of preferred stock to common stock

Which of the following was an influence on Yeats's early poetry?

Romantic poets

Which major world event contributed to the formation of the Modernist Era?

World War I

On August 20, Max, Inc. issues 100 shares of $1 par value preferred stock for $3,000 cash. The entry to record this transaction would include a (debit/credit) to the preferred stock account in the amount of $.

credit 100

Cameron, Inc. held 1,000 shares of its own $10 par value common stock purchased for $20 per share. In March, Cameron sold 10 shares at $20 per share. The journal entry to record the sale of treasury stock would include a (debit/credit) ________ to Treasury Stock in the amount of ________.

credit; $200

Cash flows provided (used) by operating activities are reported in one of two ways: the method or the method. These two methods apply only to the operating activities section.

direct indirect

The amount of income earned per each share of a company's outstanding common stock is known as:

earnings per share

_________ activities include those transactions and events that affect long-term liabilities and equity, such as obtaining cash from issuing debt and distributing cash to owners.

financing

The format of a statement of cash flows includes reporting cash flows from three activities including:

financing operating investing

Which of the following Victorian Era ideas was rejected by Modern artists?

hope

When analyzing the noncash accounts to assist in preparing the statement of cash flows, the changes in liabilities, equity and noncash asset accounts are analyzed along with the

income statement accounts

At the beginning of the year, Rex Co. showed a debit balance in the cash account of $20,500. Total debits to this account during the year were $45,000, and total credits during the year were $35,000. The net (increase/decrease) in cash for the year equals $.

increase 10000

Carol Co. prepares a statement of cash flows starting with net income and then adjusting for items that do not affect cash. Carol Co. is using the (direct/indirect) method of reporting the statement of cash flows.

indirect

A net cash (inflow/outflow) occurs when the receipts in a category exceed the payments.

inflow

Collecting money for notes receivable would be reported on the statement of cash flows as a(n) activity.

investing

Lakeview, Inc.'s statement of cash flows reports financing activities with payments that exceed receipts. This means that Lakeview had a net cash (inflow/outflow) from financing activities.

outflow