UGBA 102A Lecture Notes - Lecture 8: Retained Earnings, Cash Flow, Income Statement
31 Oct 2017
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The first group of questions is designed to get you familiar with your company: Remember an answer without a page number is wrong! On the income statement, what were the balances for the following items: sales, cost of goods sold, income tax expense, net income. On the balance sheet, what were the balances for the following items: total assets, total liabilities, total equity. On the statement of retained earnings, what were the balances for the following items: beginning retained earnings, dividends, ending retained earnings. On the statement of cash flows, what were the balances for the following items: cash flow from operating activities, cash flow from investing activities, cash flow from financing activities. The remaining questions go deeper into the annual report. They are in no particular order so think about where the answer should be before you look for it: what is the main product or service that the company.
