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When prepaid expense increase it means cash paid for expenses is more than the actual expense and the excess amount is for a future period. The amount increase in prepaid expense are reported as cash outflow in cash flow statement.
Multiple Choice Question When prepaid accounts increase, it indicates the company has paid recorded as operating...
Multiple Choice Question An increase in accounts receivable will result in a(n) in cash from sales revenue when using the direct method to determine cash flows from operations. O increase O decrease Rate your confidence to submit your answer. High Medium Medium 1 Low LOW
Which account is most unlikely to be credited when an expense is recorded? Multiple Choice O O Cash O O Accounts Payable Accounts Receivable An account with the word "Prepaid" in its title A prepayment of rent for the next three months (not including this month): Multiple Choice decreases stockholders' equity. O increases expenses a has no effect on total assets. reduces total assets.
Multiple Choice Question 94 Vaughn Manufacturing recorded the following cash transactions for the year: Paid $142500 for salaries. Paid $58400 to purchase office equipment. Paid $15300 for utilities. Paid $5000 in dividends. Collected $290000 from customers. What was Vaughn's net cash provided by operating activities? O $127200 $73800 $147500 $132200
A company reports operating expenses of $5 million. Operating expenses include rent expense. Prepaid rent at the beginning and end of the year is $120,000 and $80,000, respectively. All other operating expenses were paid in cash as incurred. What is the amount of cash paid for operating expenses? Multiple Choice Ο $5,000,000. Ο $5,040,000. 55,000 Ο $4,960,000. Ο $5,080,000.
fill in the blank question Fill in the Blank Question When financial statements are prepared, unexpired prepaid accounts are recorded as (expenses/assets/iabilities) and the expired portion of the prepaid account is reported as ain) (expense/asset liability). Confidence Level Rate your confidence to submit your answer Home
Multiple Choice Question Identify which of the following lists include only examples of assets. O Equipment, dividends, land O Cash, accounts payable, supplies O Unearned revenue, accounts payable, cash, O Building, cash, accounts receivable Confidence Level Rate your confidence to submit your answer. High Medium LOW
When taking a 10 question multiple choice test. Where each question has 3 possible answers. yes, it is wrong " no, it is not wrong Question 4Points: O out of 1 possible. 1 available on this attempt. This is attempt 1 of 3. When taking a 10 question multiple choice test, where each question has 3 possible answers, it or more questions correct by guessing alone. would be unusual to get Give your answer in the box above as a...
Multiple Choice Question 129 The net income reported on the income statement for the current year was $561000. Depreciation recorded on plant assets was $84000. Accounts receivable and inventories increased by $44000 and $18000, respectively. Prepaid expenses and accounts payable decreased by $2000 and $35000, respectively. How much cash was provided by operating activities? O $550000. $510000 O $740000 O $528000
Multiple Choice Question Sales on account are $200,000. Cash sales during the period are $50,000. Beginning accounts receivable is $20,000, and ending accounts receivable is $30,000. What is the total cash collected from customers during the period? O $230,000 O $240,000 $250,000 O $220,000 Rate your confidence to submit your answer High Medium Low
QUESTION 23 Multiple Choice: Choose the one best answer: A grocer has more operating cycles in a year than: clothing or electronics retailers. tax preparers. O real estate agents.