Help me with Webster University ACCT 2010 OB Financial Accounting Week 1 Quiz

Question - YiCompanybeganoperationsonJanuary1,2013.During2013,thecompanyengaged             
in the following cash transactions: 
 
1) issued stock for $54,000 
2) borrowed $32,000 from its bank 
3) provided consulting services for $52,000 
4) paid back $22,000 of the bank loan 
5) paid rent expense for $12,500 
6) purchased equipment costing $19,000 
7) paid $3,700 dividends to stockholders 
8) paid employees' salaries, $28,000 
 
1. What is Yi's net cash flow from operating activities? 
Inflow of $7,800 
I ...Read More nflow of $24,000 
 Inflow of $11,500 
Inflow of $43,500 
 
2. What is Yi's net cash flow from investing activities? 
Outflow of $44,700 
Inflow of $54,000 
Inflow of $35,000 

Outflow of $19,000 
 
3. What is Yi's cash flow from financing activities? 
Outflow of $3,700 
Outflow of $22,000 
Inflow of $50,300 
 Inflow of $60,300 
 
 
4.Attheendof2013,retainedearningsfortheBiskCompanywas$2,650.Revenue               
earnedbythecompanyin2013was$2,900,expensespaidduringtheperiodwere              
$1,550,anddividendspaidduringtheperiodwere$950.Basedonthisinformation             
alone, retained earnings at the beginning of 2013 was 
$5,800 
$1,300 
$2,250 
$3,050 
 
 
5.IfBoydCompanyreportedassetsof$1,800andliabilitiesof$850,Boyd'stotalclaims               
totaled 
none of the above. 
$950. 

$2,650. 
$1,800. 
 
 
6.During2013,ChiCompanyearned$2,900ofcashrevenue,paid$1,250ofcash              
expenses,andpaida$750cashdividendtoitsowners.Basedonthisinformation              
alone, 
cash inflow from operating activities was $1,650. 
total assets increased by $900. 
all of these are correct. 
net income amounted to $1,650. 
 
 
7.VandeverCompany'sbalancesheetreportedassetsof$62,000,liabilitiesof$19,000            
andcommonstockof$16,000asofDecember31,2012.IfRetainedEarningsonthe               
December31,2013balancesheetis$34,000andVandeverpaida$18,000dividend             
during 2013, then the amount of net income for 2013 was which of the following? 
$25,000 
None of the above 
$7,000 
$27,000 
 

8.ThebalancesheetoftheChesapeakeCompanycontainedthefollowingaccounts            
and balances: 
  Cash ­ $780 
  Notes Payable ­ $480  
  Equity ­ $630 
  Land ­ ?  
 
Based on the above information only, the amount or balance for Land must be 
$330 
$1,110 
$1,890 
$630 
 
9.JacksCompanyhadanetincreaseincashfromoperatingactivitiesof$9,900anda                
netdecreaseincashfromfinancingactivitiesof$3,850.Ifthebeginningandending              
cashbalancesforthecompanywere$4,900and$14,800,thennetcashchangefrom              
investing activities was: 
an inflow or increase of $1,050. 
zero. 
an outflow or decrease of $3,850. 
an inflow or increase of $3,850. 
 
 

10.CallahanCompanyearned$4,500ofcashrevenue,paid$2,500forcashexpenses,             
and paid a $950 cash dividend to its owners. Which of the following statements is true? 
The net cash flow from operating activities was $1,050. 
The net cash flow from operating activities was $2,000. 
The net cash flow from investing activities was an outflow or decrease of $950. 
Cash flows from financing activities were unchanged.  ...Read Less

Solution Preview - ,thecompanyengaged              in the following cash transactions:    1) issued stock for $54,000  2) borrowed $32,000 from its bank  3) provided consulting services for $52,000  4) paid back $22,000 of the bank loan  5) paid rent expense for $12,500  6) purchased equipment costing $19,000  7)

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