collected $100 of cash from customers, paid $60 of cash to suppliers,
paid $30 of cash to employees and other creditors, and recorded a $5 loss on sale of equipment. There were no other cash flows related to operating activities. What was Menon Ns Cash Flow from Operations during the quarter?
$20 $5 $25 $10 $15 Question 2 Saxena Ltd. had EBITDA of $1000, Depreciation and Amortization Expense of $200, Interest Expense of $100, and Tax Expense of $50. What was Saxenas Net Income? $650 $750 $1000 $950 $1250 Question 3 Mangini Co.s Balance Sheet had the following line item: 12/31/2012 12/31/2011 Accounts Receivable, net of allowances of $200 and $150, respectively $4,900 $4,100 What percentage of gross accounts receivable does Mangini expect to be uncollectable as of 12/31/2012?
3.53% 3.92% 4.08% 4.01% 3.66% Question 4 Odaine Inc.s footnotes had the following line item: 12/31/2012 12/31/2011 Allowance for Doubtful Accounts $700 $750 Odaine also disclosed that Bad Debt Expense was $1200 in 2012 and $990 in 2011. There were no recoveries of previously-written off accounts in either year. What were total write-offs of uncollectable accounts for the year ended 12/31/2012?
$1,250 $1,200 $1,150 $210 $950 Question 5 JannaChan Ltd.s Statement of Cash Flows had the following line items: 2012 2011 Bad Debt Expense, net $1,500 $350 Increase in Accts Receivable $(6,600) $(2,900) JannaChan reported Sales of $150,000 during the year ended 12/31/2012. There were no write-offs or recoveries during 2012. How much cash did JannaChan collect from customers during the year ended 12/31/2012?
$143,400 $156,600 $150,000 $148,500 $141,900 Question 6 A retail company, Telmo-Mart, had the following line item on its Balance Sheet: 12/31/2012 12/31/2011 Inventory $2,500 $2,200 Telmo-Marts Income Statement had the following line item:
2012 2011 Cost of Goods Sold $65,000 $59,000 How much inventory did Telmo-Mart purchase during the year ended 12/31/2012?
$65,300 $58,700 $59,300 $64,700 $65,000 Question 7 Nguyen Co. incurred the following costs during the quarter: Raw materials used in production $132,000 Marketing materials used by sales staff $114,000 Wages of factory workers $191,000 Salaries of sales staff $391,000 Depreciation on factory and production equipment $152,000 Depreciation on headquarters building $132,000 Manufacturing overhead $172,000 How much of these costs would have been recorded in Nguyen's Work in Process Inventory account during the quarter?
$647,000 $495,000 $488,000 $1,252,000 $779,000 Question 8 A manufacturing company, Kutty Industries Ltd., had the following line items in a footnote: 12/31/2012 12/31/2011 Raw Materials $150 $140 Work in Process $215 $200 Finished Goods $250 $240 $615 $580 LIFO Reserve $(100) $(60) Total Inventory $515 $520 Kutty Industries Income Statement had the following line item:
2012 2011 Cost of Goods Sold $1,850 $1,725 What would Kutty Industriess Cost of Goods Sold had been if they had used the FIFO inventory method for the year ended 12/31/2012?