managerial acc review
If a gain of $11,000 is realized in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is...
$66,000
in horizontal analysis, each item is expressed as a percentage of the...
base year figure
cash paid to purchase long-term investments would be reported in the statement of cash flows in...
cash flows from investing activities section
what can be found on the statement of cash flows?
cash flows from operating activities
a product cost is..
expensed in the period the product is sold
borrowed $43,000 from regional bank, issuing a 5 year, 8% note for that amount.
financing/$43,000
Issued $500,000 of 20-year, 10% bonds payable at 99.
financing/495,000
issued bonds payable for cash
financing/cash inflow
declared and paid a cash dividend
financing/cash outflow
purchased treasury stock for cash
financing/cash outflow
which of the following should be deducted from net income in calculating net cash flow from operating activities using the indirect method?
gain on sale of land
the percent of increases/decreases in related items in comparative financial statements is called what...
horizontal analysis
utilities on factory building...
indirect
which of the following is not included in the computation of the quick ratio?
inventory
received $120,000 from sale of land costing $70,000
investing/$120,000
acquired equip for $64,000 cash
investing/$64,000
purchased investments for $75,000
investing/$75,000
which of the following is most associated with managerial accounting?
may rely on estimates and forecasts
what is the primary criterion for the prep of managerial accounting reports?
meet the managers needs
office equip depreciation...
neither
recognized depreciation for the year, $37,000
operating/$37,000
received cash for sales
operating/cash inflow
received interest on a long term bond investment
operating/cash inflow
paid an account payable
operating/cash outflow
paid the weekly payroll
operating/cash outflow
advertising expense...
period
depreciation on store equip...
period
salespersons' commissions...
period
depreciation on factory machinery...
product
which of the following types of transactions would be reported as a cash flow from investing activity on the statement of cash flows?
purchase of concurrent assets
which of the following ratios provides a solvency measure that shows the margin of safety of bondholders and also gives an indication of the potential ability of the business to borrow additional funds on a long term basis?
ratio of fixed assets to long term liabilities
which of the following is false in regards to direct materials for an auto manufacturer?
small plastic clips to hold on door panels must be dm
the ability of a business to pay its debts and earn income is...
solvency and profitability
under which of the following cases may a percentage change be computed?
the trend of the amounts is decreasing but all amounts are positive
which of the following does not represent an outflow of cash and therefore would not be reported on the statement of cash flows as a use of cash?
discarding an asset that hadn't been fully depreciated
declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year.
financing/$34,000
Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash.
financing/2,125,000
factory equip depreciation...
indirect
indirect labor incurred...
indirect
indirect materials used...
indirect
sold a long term stock investment for cash at book value
investing/cash inflow
paid cash for a new piece of equipment
investing/cash outflow
paid cash for stock in another company
investing/cash outflow
Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share.
n/a
admin office salaries & utilities on admin facilities...
neither
insurance expire on admin facilities...
neither
period costs include...
operating costs that are shown on income statement
which of the following are basic phases of the management process?
planning and controlling
direct labor incurred...
product
direct materials used...
product
factory machinery repairs and maintenance...
product
factory utilities...
product
indirect labor incurred...
product
indirect materials used...
product
plant insurance expired...
product
salary of plant manager...
product
which of the following is the principle reason for preparing managerial accounting reports?
usefulness to management
the percent of fixed assets to total assets is an example of...
vertical analysis
a business issues 20-year bonds payable in exchange for preferred stock. this transaction would be reported on the statement of cash flows in...
a separate schedule
which of the following should be added to net income in calculating net cash flow from operating activities using the indirect method?
decrease in acc rec & increase in accrued liabilities
on the statement of cash flows, a $7,500 gain on the sale of fixed assets would be...
deducted from net income/reported on income statement to cash flows from operating activities
direct labor incurred...
direct
direct materials used...
direct
the cost of wages paid to employees directly involved in the manufacturing process in converting materials into finished product is classified as...
direct labor cost
which of the following costs are referred to as conversion costs?
direct labor cost and fo cost
