Author: Anonymous

The statement of cash flows cannot help address questions such as:

The account receivable turnover measures:

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

Ironwood Company is preparing the company’s statement of cash flows for the fiscal year just ended. The following information is available:        Retained earnings balance at the beginning of the year $ 233,000 Cash dividends declared for the year   50,000 Proceeds from the sale of equipment   85,000 Gain on the sale of equipment   4,500 Cash dividends payable at the beginning of the year   22,000 Cash dividends payable at the end of the year   30,000 Net income for the year   110,000 The amount of cash paid for dividends was:

The statement of cash flows cannot help address questions such as:

If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:

The account receivable turnover measures:

Ironwood Company is preparing the company’s statement of cash flows for the fiscal year just ended. The following information is available:        Retained earnings balance at the beginning of the year $ 233,000 Cash dividends declared for the year   50,000 Proceeds from the sale of equipment   85,000 Gain on the sale of equipment   4,500 Cash dividends payable at the beginning of the year   22,000 Cash dividends payable at the end of the year   30,000 Net income for the year   110,000 The amount of cash paid for dividends was:

When an item has a value in the base period and zero in the analysis period, the decrease is 100 percent.