One rationale for the statement of cash flows is to A. ensure that the cash account...
One rationale for the statement of cash flows is to
-
A. ensure that the cash account balances at year-end.
-
B. reconcile differences between net income and cash receipts and disbursements.
-
C. calculate the company’s free cash flow.
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D. examine the cash effects of income from discontinued operations, extraordinary items and changes in accounting principles.
One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is
-
A. ROA does not differentiate based on how a company finances its assets; ROCE does.
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B. ROA does not distinguish between the different types of income items, such as income from continuing operations, discontinued operations, extraordinary items and changes in accounting principles; ROCE does.
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C. ROCE does not distinguish between the different types of income items, such as income from continuing operations, discontinued operations, extraordinary items and changes in accounting principles; ROA does.
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D. ROCE does not differentiate based on how a company finances its assets; ROA does.
All of the following are common domestic risks faced by companies except:
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A. recessions
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B. technology
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C. inflation
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D. demographic shifts
Homework Answers
One rationale for the statement of cash flows is to
-
B. reconcile differences between net income and cash receipts and disbursements.
-
Explanation: Statement of cash flows shows how the cash status of all the cash related activities and hence reconciles the differences between net income and cash receipts and disbursements.
One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is
-
A. ROA does not differentiate based on how a company finances its assets; ROCE does.
-
Explanation:
and
and
All of the following are common domestic risks faced by companies except:
-
B. technology
-
Explanation: Technology is not a risk.
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Add Answer to:
One rationale for the statement of cash flows is to
A. ensure that the cash account...
On the income statement, infrequent expenses are found in operating revenues and expenses. other revenues or...
On the income statement, infrequent expenses are found in operating revenues and expenses. other revenues or expenses. disposal of a business segment. cumulative effects. Question 6 Publicly held companies must disclose earnings per share for all of the following except for income from continuing operations. losses from discontinued segments of a business. other revenue and expense items cumulative effects resulting from changes in accounting principles.
Return to question Item 5 Item 5 2 points Chance Company had two operating divisions, one...
Return to question
Item 5
Item 5 2 points
Chance Company had two operating divisions, one manufacturing
farm equipment and the other office supplies. Both divisions are
considered separate components as defined by generally accepted
accounting principles. The farm equipment component had been
unprofitable, and on September 1, 2021, the company adopted a plan
to sell the assets of the division. The actual sale was completed
on December 15, 2021, at a price of $680,000. The book value of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $680,000. The book value of the division's assets was $1,170,000, resulting in a before-tax loss...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use the direct or indirect method? 2. Looking at the adjustment for prepaid expenses and other current assets for 2018, did JACK pre-pay additional expenses or use up expenses previously pre-paid? Why? 3. We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofita on December 15, 2018, at a price of $710,000. The book value of the division's assets was $1,230,000, resulting in a before-tax loss of $520,000 on the sale. ble, and on September 1, 2018, the company adopted a plan to sell the assets of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $760,000. The book value of the division's assets was $1,330,000, resulting in a before-tax loss...
Analyze the income statement for any potential risk factors and compliance issues with Generally Accepted Accounting...
Analyze the income statement for any potential risk factors and compliance issues with Generally Accepted Accounting Principles (GAAP) or International Financial Recording Standards (IFRS). B. Analyze the risk factors and compliance issues with GAAP or IFRS on the balance sheet. C. Using the internal control, analyze the cash and revenue for potential risk factors. 1. What risks need to be documented? 2. How does this information compare to the company or industry averages, or the company’s past performance? D. Explain...
Review the Statement of Cash Flows for Jack in the Box (JACK). Answer the following questions...
Review the Statement of Cash Flows for Jack in the Box (JACK).
Answer the following questions which are worth 2 points each.
1. Does JACK use the direct or indirect method?
2. Looking at the adjustment for prepaid expenses and other
current assets for 2018, did JACK pre-pay additional expenses or
use up expenses previously pre-paid? Why?
3. We are given the gains from the sale of company-operated
restaurants and the proceeds from the sale of those restaurants.
Given that...
Exercise 4-6 (Algo) Discontinued operations (L04-4, 4-5) Chance Company had two operating divisions, one manufacturing farm...
Exercise 4-6 (Algo) Discontinued operations (L04-4, 4-5) Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $630,000. The book value of the division's assets...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both...
Chance Company had two operating divisions, one manufacturing
farm equipment and the other office supplies. Both divisions are
considered separate components as defined by generally accepted
accounting principles. The farm equipment component had been
unprofitable, and on September 1, 2021, the company adopted a plan
to sell the assets of the division. The actual sale was completed
on December 15, 2021, at a price of $750,000. The book value of the
division’s assets was $1,310,000, resulting in a before-tax loss...
On the income statement, infrequent expenses are found in operating revenues and expenses. other revenues or expenses. disposal of a business segment. cumulative effects. Question 6 Publicly held companies must disclose earnings per share for all of the following except for income from continuing operations. losses from discontinued segments of a business. other revenue and expense items cumulative effects resulting from changes in accounting principles.
Return to question
Item 5
Item 5 2 points
Chance Company had two operating divisions, one manufacturing
farm equipment and the other office supplies. Both divisions are
considered separate components as defined by generally accepted
accounting principles. The farm equipment component had been
unprofitable, and on September 1, 2021, the company adopted a plan
to sell the assets of the division. The actual sale was completed
on December 15, 2021, at a price of $680,000. The book value of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $680,000. The book value of the division's assets was $1,170,000, resulting in a before-tax loss...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use the direct or indirect method? 2. Looking at the adjustment for prepaid expenses and other current assets for 2018, did JACK pre-pay additional expenses or use up expenses previously pre-paid? Why? 3. We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofita on December 15, 2018, at a price of $710,000. The book value of the division's assets was $1,230,000, resulting in a before-tax loss of $520,000 on the sale. ble, and on September 1, 2018, the company adopted a plan to sell the assets of the...
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $760,000. The book value of the division's assets was $1,330,000, resulting in a before-tax loss...
Review the Statement of Cash Flows for Jack in the Box (JACK).
Answer the following questions which are worth 2 points each.
1. Does JACK use the direct or indirect method?
2. Looking at the adjustment for prepaid expenses and other
current assets for 2018, did JACK pre-pay additional expenses or
use up expenses previously pre-paid? Why?
3. We are given the gains from the sale of company-operated
restaurants and the proceeds from the sale of those restaurants.
Given that...
Exercise 4-6 (Algo) Discontinued operations (L04-4, 4-5) Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $630,000. The book value of the division's assets...
Chance Company had two operating divisions, one manufacturing
farm equipment and the other office supplies. Both divisions are
considered separate components as defined by generally accepted
accounting principles. The farm equipment component had been
unprofitable, and on September 1, 2021, the company adopted a plan
to sell the assets of the division. The actual sale was completed
on December 15, 2021, at a price of $750,000. The book value of the
division’s assets was $1,310,000, resulting in a before-tax loss...
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