Homework Help is Here – Start Your Trial Now!
Business
Accounting
1. Which of the following items is regarded as a cash flow from operating activities? Cash dividends paid Proceeds from sale of equipment which resulted to a gain Proceeds from sale of equipment which resulted to a loss Interest paid on long-term debt 2. Company H acquired an equipment on June 1, 2020 amounting to $35,000 with an estimated useful life of 5 years. What would be the reported carrying value of the equipment on December 31, 2021 if the residual value at the end of 5 years is $5,00o0? $25,500 $32,000 $29,000 $26,000 3. Company O has a new product that has the following cost per unit: direct materials - $1O, direct labor - $7, and overhead - $3. If the sales manager wants to achieve a gross margin of 25% of cost for the particular product. What would be the selling price per unit? $25 $36 $45 $56 4. When the contribution margin per unit increases assuming all other factors remain constant. The effect would be An increase in sales price A decrease in fixed cost An increase in break-even point in units A decrease in break-even point in units

1. Which of the following items is regarded as a cash flow from operating activities? Cash dividends paid Proceeds from sale of equipment which resulted to a gain Proceeds from sale of equipment which resulted to a loss Interest paid on long-term debt 2. Company H acquired an equipment on June 1, 2020 amounting to $35,000 with an estimated useful life of 5 years. What would be the reported carrying value of the equipment on December 31, 2021 if the residual value at the end of 5 years is $5,00o0? $25,500 $32,000 $29,000 $26,000 3. Company O has a new product that has the following cost per unit: direct materials - $1O, direct labor - $7, and overhead - $3. If the sales manager wants to achieve a gross margin of 25% of cost for the particular product. What would be the selling price per unit? $25 $36 $45 $56 4. When the contribution margin per unit increases assuming all other factors remain constant. The effect would be An increase in sales price A decrease in fixed cost An increase in break-even point in units A decrease in break-even point in units

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Second Question

1. Which of the following items is regarded as a cash flow from operating activities? O Cash dividends paid Proceeds from sale of equipment which resulted to a gain O Proceeds from sale of equipment which resulted to a loss O Interest paid on long-term debt 2. Company H acquired an equipment on June 1, 2020 amounting to $35,000 with an estimated useful life of 5 years. What would be the reported carrying value of the equipment on December 31, 2021 if the residual value at the end of 5 years is $5,000? $25,500 O $32,000 O $29,000 O $26,000 3. Company O has a new product that has the following cost per unit: direct materials - $10, direct labor - $7, and overhead - $3. If the sales manager wants to achieve a gross margin of 25% of cost for the particular product. What would be the selling price per unit? $25 O $36 $45 $56 4. When the contribution margin per unit increases assuming all other factors remain constant. The effect would be An increase in sales price A decrease in fixed cost An increase in break-even point in units A decrease in break-even point in units
Transcribed Image Text:1. Which of the following items is regarded as a cash flow from operating activities? O Cash dividends paid Proceeds from sale of equipment which resulted to a gain O Proceeds from sale of equipment which resulted to a loss O Interest paid on long-term debt 2. Company H acquired an equipment on June 1, 2020 amounting to $35,000 with an estimated useful life of 5 years. What would be the reported carrying value of the equipment on December 31, 2021 if the residual value at the end of 5 years is $5,000? $25,500 O $32,000 O $29,000 O $26,000 3. Company O has a new product that has the following cost per unit: direct materials - $10, direct labor - $7, and overhead - $3. If the sales manager wants to achieve a gross margin of 25% of cost for the particular product. What would be the selling price per unit? $25 O $36 $45 $56 4. When the contribution margin per unit increases assuming all other factors remain constant. The effect would be An increase in sales price A decrease in fixed cost An increase in break-even point in units A decrease in break-even point in units
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS