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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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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