Exam 2: Financial Statements and Cash Flow

Thompson's Jet Skis has operating cash flow of $11,618.Depreciation is $2,345 and interest paid is $395.A net total of $485 was paid on long-term debt.The firm spent $6,180 on fixed assets and decreased net working capital by $420.What is the cash flow of the firm?

Right Way Movers has interest expense of $168,total revenues of $38,411,costs of $28,515,depreciation of $306,and taxes of $1,979.The beginning balance sheet has total assets of $48,354,net fixed assets of $31,202,current liabilities of $14,207,and total liabilities of $29,407.The ending balance sheet shows total assets of $49,305,net fixed assets of $33,406,current liabilities of $17,318,and total liabilities of $30,404.What is the annual cash flow of the firm?

The cash flow resulting from a firm's ongoing,normal business activities is referred to as the:

AC Motors is a sole proprietorship that has taxable income of $94,200.How much additional tax will be owed if the taxable income increases by $14,300 based on the following tax rates? Assume this is the sole source of income for the owner.

According to Generally Accepted Accounting Principles (GAAP),the cost of goods sold expenses are:

Martha's Enterprises spent $4,100 to purchase equipment three years ago.This equipment is currently valued at $2,700 on today's balance sheet but could actually be sold for $3,200.Net working capital is $400 and long-term debt is $2,300.Assuming the equipment is the firm's only fixed asset,what is the book value of shareholders' equity?

Which account represents the book value of all of a corporation's net profits less its dividend payments?

All else held constant,the earnings per share will decrease as the:

If a firm's financial managers successfully meet their primary goal,then the firm's:

Deep Water Mining added $411 to retained earnings last year on sales of $24,646.The administrative expenses were $4,370,depreciation was $812,dividends paid were $285,and the interest expense was $103.What was the cost of goods sold if the total tax rate was 23 percent?

Pete's Boats has beginning long-term debt of $840 and ending long-term debt of $790.The beginning and ending total debt balances are $1,220 and $1,360,respectively.The interest paid is $30.What is the amount of the cash flow to creditors?

Which one of these accounts is classified as a fixed asset on the balance sheet?

Which one of these does not affect the cash flow to creditors?

The income statement:

One of the reasons why cash flow analysis is popular is because:

Last year,Oscar's Dog Treats had a cash flow to creditors of $2,840 and a cash flow to stockholders of $1,630.The firm spent a net of $1,420 on fixed assets and reduced net working capital by $330.What was the operating cash flow?

Ledger Properties has the following financial information: What is the cash flow of the firm for the current year if the tax rate is 22 percent?

When you are making a financial decision,the most relevant tax rate is the ________ rate when the tax rate schedule is progressive.

The entire book value of the residual ownership of a corporation is known as the:

Capital spending is equal to: