MGMT E 1000 Financial Accounting Principles (mgmte1000)

Module 7 Quiz 1) Which of the following is INCORRECT in determining free cash flows? Adjust net income for interest expense This is NOT the correct answer because it is true; you do adjust net income for interest expense in determining free cash flows. Subtract capital expenditures This is NOT the correct answer because it is true; you do subtract capital expenditures in determining free cash flows. Subtract depreciation correct This is the correct answer! It is NOT true. You ADD BACK depreciati...

MGMT E-1000 Financial Accounting Principles final study exam LO: 2 1. At the beginning of the current period, Haitijah Industries has 150 units of a product with a unit cost of $640. Its inventory records report the following transactions: Units Unit Cost Cost Beginning Inventory 150 $640 $96,000 Purchase #1 150 $704 $105,600 Purchase #2 70 $760 $53,200 Purchase #3 30 $840 $25,200 During the current period, Haitijah sells 340 units. A. Assume Haitijah uses the FIFO method. Compute the ...

Topic: Financial accounting information LO: 1 1. Match each of the following terms (1-8) on the left with related explanations (A – H) on the right. 1. Partnership A. Corporations with stock traded on public exchanges 2. Board of directors B. The common form of business ownership used by lawyers and CPAs 3. Managerial accounting C. Lenders of resources 4. Stock market regulators D. Designed primarily for decision makers outside of the company 5. Creditors E. Elected by the shareholde...

QUIZ QUESTIONS 1) Address You, a fancy dress manufacturer, sold a dress for $8,000 on credit. The cost of producing this dress was $1,000. First, how would the revenue and receivable from this transaction impact the accounting equation of Address You? Please enter the amounts in the boxes below.

Calculate the Profit Margin for Chrissie's Cooking Supply based on its Income Statement.

Module 5 Quiz 1)Which of the following items would NOT be shown on a statement of cash flowscreated using the indirect method?Net Income Net income is shown in the cash flow from Operating Activities section under the indirect method. Retained Earnings This is the correct answer! Retained earnings is never shown on the statement of cash flows. Cash, beginning of year Beginning of year cash balance is shown at the top of a statement of cash flows. Cash, end of year End of year cash balance is sho...

4. Adjusting Journal Entries

Module 3 Quiz 1) Organize the accounts and amounts shown on the right into the current assets and non-current assets sections of the balance sheet for Cardullo's. Start building the sections according to US GAAP and then do it according to IFRS standards. You will have a chance to review both side by side before submitting your answer.

MGMT E-1000 Financial Accounting Principles Module 2 Quiz 1) Which of the following accounts is decreased by a debit? Select all that apply. Sales Revenue correct Sales Revenue is a revenue account as part of owners' equity and therefore increases with a credit and decreases with a debit. Rent Expense Rent Expense is an expense account as part of owners' equity and therefore increases with a debit and decreases with a credit. Deferred Revenue correct