Exam 6: Reporting and Analyzing Inventory

Which of the following would be considered an "Other Comprehensive Income" item?

One major purpose of the statement of cash flows is to provide information about:

Ross Paints reported sales of $350,000, total assets of $150,000, total stockholders' equity of $60,000, current assets of $50,000, current liabilities of $30,000, and cash of $15,000. In a vertical analysis of the balance sheet, cash would be shown as:

If a loss of $12,000 is incurred in selling (for cash) equipment having a book value of $60,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is:

The category that is generally considered to be the best measure of a company's ability to continue as a going concern is:

Investing activities include:

Common size analysis is one technique of:

The purchase of treasury stock:

The best way to study the relationship of the components within a financial statement is to prepare:

In the statement of cash flows, the activities that affect cash flows are listed in the following order:

A disadvantage of the corporate form of business is:

Lorens Manufacturing declared a 10% stock dividend when it had 200,000 shares of $5 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to:

Which of the following income statement figures would probably be the best indicator of a company's future performance?

___ 4. Deeper Company paid $42,000 to buy 4,000 shares of its $6 par value common stock for the treasury. The stock was originally issued for $50,000. The entry to record the purchase includes a:

Tildon Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is:

Thomas Corporation issued 3,000 shares of $5 par value common stock for $20 per share. The entry to record this transaction includes a credit to Paid-in Capital in Excess of Par for:

The purchase of an office building by issuing long-term notes payable should be reported as a:

Swanson Company had inventory of $220,000 and $180,000 on December 31, 2012, and December 31, 2011, respectively. Cost of goods sold for 2012 was $1,800,000. Average days in inventory is approximately: