Reference no: EM13920953
4. Which of the following would not be reported in the operating activities section of a cash flow statement?
Cash paid for dividends to stockholders.
Cash paid for interest expense.
Cash paid for employee wages.
Cash received from customers.
5. An account payable would be reported within which of the following financial statements?
Statement of cash flows.
Income statement.
Balance sheet.
Statement of retained earnings.
10. Which of the following describes the impact on the balance sheet of paying a current liability using cash?
Current assets will decrease.
Current liabilities will increase.
Stockholders' equity will decrease.
Total assets will remain the same.
16. Which of the following describes the reporting of interest expense on the income statement?
It is reported as an operating expense.
It is a component of operating income.
It is deducted from operating income.
It is added to operating income.
17. Smith Corporation has provided the following information:
Cash sales totaled $125,000.
Credit sales totaled $279,000.
Cash collections from customers for services yet to be provided totaled $38,000.
An $11,000 gain from the sale of property and equipment occurred.
Interest income totaled $7,700.
How much were Smith's operating revenues?
$404,000.
$411,700.
$442,000.
$460,700.