Payment of $5,000 made to bank on a long-term mortgage note payable. Question 1

Question

Payment of $5,000 made to bank on a long-term mortgage note payable.
Question 1 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule

Corporate headquarters land is received as a donation.
Question 2 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
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Question 3 (1 point)


The Cash Flow Statement must be presented in the following order:
Question 3 options:

A) Operating Activity, Financing Activity, Investing Activity

B) Operating Activity, Investing Activity, Non-cash schedule

C) Financing Activity, Operating Activity, Investing Activity

D) Operating Activity, Investing Activity, Financing Activity

E) Investing Activity, Operating Activity, Financing Activity
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Question 4 (1 point)


Bonds payable are converted into common stock.
Question 4 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
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Question 5 (1 point)


Sale of equipment.
Question 5 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity
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Question 6 (1 point)


Decrease of $4,500 in Accounts Payable - Indirect Method
Question 6 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Non-cash Schedule
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Question 7 (1 point)


Common stock is sold for cash above par value.
Question 7 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity

D) Noncash Activity
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Question 8 (1 point)


Cash dividends declared and paid.
Question 8 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
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Question 9 (1 point)


Purchase of land.
Question 9 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity
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Question 10 (1 point)


Common stock is sold for cash above par value
Question 10 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
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Question 11 (1 point)


Receipt of dividends on investment.
Question 11 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity
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Question 12 (1 point)


Decrease in Salaries Payable - Indirect Method
Question 12 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
Save
Question 13 (1 point)


Net Loss of $5,000 - Indirect Method
Question 13 options:

A) Operating Activity - Addition

B) Operating Activity - Deduction

C) Investing Activity

D) Financing Activity

E) Noncash Schedule
Save
Question 14 (1 point)


Accounts payable are paid in cash.
Question 14 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity

D) Noncash Activity
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Question 15 (1 point)


Purchase of treasury stock.
Question 15 options:

A) Operating Activity

B) Investing Activity

C) Financing Activity

Explanation / Answer

1.A) Operating Activity - Addition 2.B) Operating Activity - Deduction 3.C) Financing Activity, Operating Activity, Investing Activity 4.C) Investing Activity 5.B) Investing Activity 6.C) Investing Activity 7.a )Operating Activity 8.C) Investing Activity 9.B) Investing Activity 10.B) Operating Activity - Deduction 11.B) Investing Activity 12.B) Operating Activity - Deduction 13.B) Operating Activity - Deduction 14.B) Investing Activity B) 15.B) Operating Activity - Deduction

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