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Exam (elaborations)

FINANCIAL REPORTING II FINAL EXAM QUESTIONS WITH CORRECT ANSWERS 2025

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FINANCIAL REPORTING II FINAL EXAM QUESTIONS WITH CORRECT ANSWERS 2025

Institution
Accounting And Financial Reporting
Course
Accounting And Financial Reporting









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Institution
Accounting And Financial Reporting
Course
Accounting And Financial Reporting

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Uploaded on
February 21, 2025
Number of pages
10
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • financial reporting ii final exam questions with c

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FINANCIAL REPORTING II FINAL EXAM
QUESTIONS WITH CORRECT ANSWERS 2025
AllGaccountsGassociatedGwithGCashGFlowsGFromGOperatingGActivitiesG-GCORRECTGANSWERG-
1)GDepreciationG

2)GDeferredGIncomeGTax

3)GStockGBasedGCompensation

4)GGainGonGSaleGofGPropertyGandGEquipment

5)GChangeGinGReceivablesG-Gnet

6)GChangeGinGInventories

7)GChangeGinGPrepaidGexpenses

8)GChangeGinGCashGsurrenderGvalueGofGinsuranceG

9)GChangeGinGotherGAssets

10)GChangeGinGAccountsGpayableG

11)GChangeGinGAccruedGExpensesG

12)GChangeGinGSalaryGContinuationGPlanG

13)GChangeGinGAccruedGIncomeGTaxes



FromGtheGIncomeGStatement;

DepreciationGExpenseGandG(Loss)GonGSaleGofGEquipmentGmustGbe...G-GCORRECTGANSWERG-
AddedGBackGtoGNetGincomeGinGtheGCFOA



FromGtheGIncomeGStatement;GGainGonGSaleGofGMarketableGSecuritiesGANDGGainGonGEarlyGExtinguishmentG
ofGDebtGmustGbe...G-GCORRECTGANSWERG-SubtractedGfromGNetGincomeGinGtheGCFOA



FromGtheGBalanceGSheet;

IncreasesGinGA/RGandGInventoriesGandGanyGotherGCURRENTGASSETGmustGbe...G-GCORRECTGANSWERG-
Subtracted*GfromGNetGIncomeGInGtheGCFOA



FromGtheGBalanceGSheet;

, IncreasesGinGA/PGandGAccruedGWagesGandGanyGotherGCURRENTGLIABILITIESGmustGbe...G-
GCORRECTGANSWERG-Added*GbackGtoGNetGIncomeGinGtheGCFOA




CashGFlowsGfromGOperatingGActivitiesGreflect....G-GCORRECTGANSWERG-
ChangesGinGCurrentGAssetsGandGCurrentGLiabilitiesG(WorkingGCapital)



CashGFlowsGfromGInvestingGActivitiesGreflect...G-GCORRECTGANSWERG-ChangesGinGNon-CurrentGAssets



CashGFlowsGfromGFinancingGActivitiesGreflect...G-GCORRECTGANSWERG-ChangesGinGLong-
termGLiabilitiesGandGOwnersGEquityGAccounts



InGCashGFlowsGfromGInvestingGActivities,GPURCHASESGofGLandGand/orGMarketableGSecuritiesGshouldGbe...G-
GCORRECTGANSWERG-AnGOUTFLOWGofGCashGinGInvestingGActivities




InGCashGFlowsGFromGInvestingGActivities,GSALEGofGMarketableGsecuritiesGand/orGEquipmentGshouldGbe...G-
GCORRECTGANSWERG-AnGINFLOWGofGCashGinGInvestingGActivities




InGCashGFlowsGfromGFinancingGActivities,GPaymentsGtoGRetireGBondsGorGPaymentsGofGDividendsGshouldGbe.
..G-GCORRECTGANSWERG-AnGOutflowGofGCashGinGFinancingGActivities



InGCashGFlowsGfromGFinancingGActivities,GIssuanceGofGStockGshouldGbe...G-GCORRECTGANSWERG-
AnGInflowGofGCashGinGFinancingGActivities



TheGmainG(andGonly)GdifferenceGbetweenGtheGDirectGMethodGandGIndirectGMethodGforGtheGstatementGofG
CashGFlowsGinvolvesGwhat?G-GCORRECTGANSWERG-ItGinvolvesGtheGCashGFlowsGfromGOperatingGActivities.



WhatGdoesGtheGIndirectGMethodGofGStatementGofGCashGFlowsGSTARTGWITH?...G-GCORRECTGANSWERG-
NetGIncome,GFollowedGbyGAdjustments



InGtheGDirectGMethodGofGtheGStatementGofGCashGFlows,GNetGIncomeGis...G-GCORRECTGANSWERG-
NotGtheGstartingGPoint.GInstead,GtheGdirectGmethodGlistsGtheGcashGamountsGreceivedGandGpaidGbyGtheGcorp
oration.GThisGmethodGalsoGrequiresGaGreconciliationGofGnetGincomeGtoGcashGprovidedGbyGoperatingGactiviti
esG(automaticallyGdoneGthroughGtheGotherGmethod)
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