ACCO 310 Study Guide - Midterm Guide: Accrual, Cash Flow, Net Income
23 Sep 2015
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Question 1 (25 marks- 1 mark per question, 45 minutes: the going concern or continuity assumption is critical to financial accounting. She also owns her own identical car except that it is red. The manager paid for the red car with funds earned from her employment as sales manager. The firm will report the cost of the blue auto in its balance sheet, but not the red auto. This is an example of: reliability, matching, separate entity, going concern. At the end of year 1, the financial statements showed the following amounts: Income on the accrual basis and net cash inflow from operating activities were: 2018"s net income after taxes totaled ,000: the activities for the year ended december 31, 2018 included the following, accounts receivable increased ,000, recorded a ,000 goodwill impairment loss during the year. How much would be presented as cash flow from operations: ,000, ,000, ,000, ,000, the following entry was recorded by hollow inc. :
