ACCOUNTING JEOPARDY ACCOUNTING REVIEW DOCSEDA SCF Basic Concepts

ACCOUNTING JEOPARDY ACCOUNTING REVIEW DOCSEDA

SCF Basic Concepts SCF Classifications Adjustments SCF Indirect SCF Direct 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500

SCF Basic Concepts 100 Major aim of Statement of Cash Flow (SCF) is to explain change in this account. A: What is Cash? Docseda

SCF Basic Concepts 200 These are the two major methods of preparing a Statement of Cash Flow (SCF). A: What are Direct and Indirect Methods? Docseda

SCF Basic Concepts 300 These are three major types of activities that are analyzed in a Statement of Cash Flow. A: What are Operating, Investing, and Financing Activities? Docseda

SCF Basic Concepts 400 Major aim of Operating Activities Section of SCF is to convert this financial statement item from accrual to cash basis. A: What is Net Income? Docseda

SCF Basic Concepts 500 This section of Statement of Cash Flows has nothing to do with cash transactions. A: What is Schedule of significant Non-cash investing and financing activities or transactions? Docseda

SCF Classifications 100 The cash purchase of equipment would be classified as this type of activity in a Statement of Cash Flow (SCF). A: What Docseda is Investing Activity?

SCF Classifications 200 The issuance of stock for cash would be classified as this type of activity in a Statement of Cash Flow (SCF). A: What is Financing Activity? Docseda

SCF Classifications 300 The payment of dividends would be classified as this type of activity in a Statement of Cash Flow (SCF). A: What is Financing Activity? Docseda

SCF Classifications 400 The sale of land by a Real Estate Company would be classified as this type of activity in a Statement of Cash Flow (SCF). A: What is Operating Activity? Docseda

SCF Classifications 500 The conversion of debt to common stock would be classified as this type of activity in a Statement of Cash Flow (SCF). A: What is a significant Non-cash Financing activity? Docseda

SCF Adjustments 100 Under SCF Indirect method, Depreciation Expense is shown as this type of adjustment to net income in computation of net cash flow from operating activities. A: What is Addition to Net Income? Docseda

SCF Adjustments 200 Under SCF Indirect method, an increase in Accounts Receivable is shown as this type of adjustment to net income in computation of net cash flow from operating activities. A: What is Deduction to Net Income? Docseda

SCF Adjustments 300 Under SCF Indirect method, an increase in Accounts Payable is shown as this type of adjustment to net income in computation of net cash flow from operating activities. A: What is Addition to Net Income? Docseda

SCF Adjustments 400 Under SCF Indirect method, a decrease in Income Tax Payable is shown as this type of adjustment to net income in computation of net cash flow from operating activities. A: What is Deduction to Net Income? Docseda

SCF Adjustments 500 Under SCF Indirect method, Loss on Sale of Equipment is shown as this type of adjustment to net income in computation of net cash flow from operating activities. A: What is Addition to Net Income? Docseda

SCF Indirect 100 Based on information below, this amount represents net cash inflow (outflow) from financing activities to be shown on related SCF. A: What is $40 [60(Bonds)-20(Div)]? Docseda

SCF Indirect 200 Based on information below, this amount represents net cash inflow (outflow) from investing activities to be shown on related SCF. A: What is ($84) [15(Inv)+42(Equip)-126(Equip)-15(Inv)]? Docseda

SCF Indirect 300 Based on information below, this amount represents net adjustment to net income from Income Statement section only to be shown on related SCF. A: What is $15 [12(Dep)+15(Loss)-12(Gain)]? Docseda

SCF Indirect 400 Based on info below, this amount represents net adjustment to net income from Current Asset & Current Liability section to be shown on related SCF. A: What is ($17)[-9(AR)-12(Inv)+2(PP)-3(AP)+3(Liab) +2(ITP)]? Docseda

SCF Indirect 500 Based on information below, this amount represents net cash inflow (outflow) from operating activities to be shown on related SCF. A: What is $55 [57+12(Dep)-12(Gain)+15(Loss)-9(AR)-12 (Inv)+2(PP)-3(AP)+3(Liab)-2(ITP)]? Docseda

SCF Direct 100 Based on information below, this amount represents cash receipts from sales to be shown on related SCF. A: What is $441 [450 -9(AR)]? Docseda

SCF Direct 200 Based on information below, this amount represents cash receipts from interest and dividend income to be shown on related SCF. A: What is $12 [6(Int)+6(Div)]? Docseda

SCF Direct 300 Based on information below, this amount represents cash payments for operating expenses and other interest expense to be shown on related SCF. A: What is $128 [90 -12(Dep)-3(Liab)-2(PP)] ? Docseda

SCF Direct 400 Based on information below, this amount represents cash payments for income taxes to be shown on related SCF. A: What is $28 [30 -2(ITP)]? Docseda

SCF Direct 500 Based on information below, this amount represents cash payments for inventory purchases to be shown on related SCF. A: What is $243 [ 228+12(Inv)+3(AP)]? Docseda