Exercise 01 Instructions: Fill in the blanks with the best suited concept/ answer to the statement. - Wevking Copita eral. 1. equals current assets less current liabilities. ng the 2. In managing working capital, one should consider the trade-off between and 3. The financing of long-term assets with long-term debt is referred to as 4. Cash consists of and balance. ct be 5. Cash held for emergency purposes is referred to as a(n) 6. Excess cash that will be needed in the near future should be temporarily invested in e to securities. refers to lunds retained by the bank on a loan made to the company. ts ff 7. The term 8. The time required for a check to go from the maker to the päyee is referred to as 9. The time needed for a check to clear is referred to as. system is one in which a local bank picks up customer remissions from a 10. A(n). post office box. Page 117 of 161

Exercise 01 Instructions: Fill in the blanks with the best suited concept/ answer to the statement. - Wevking Copita eral. 1. equals current assets less current liabilities. ng the 2. In managing working capital, one should consider the trade-off between and 3. The financing of long-term assets with long-term debt is referred to as 4. Cash consists of and balance. ct be 5. Cash held for emergency purposes is referred to as a(n) 6. Excess cash that will be needed in the near future should be temporarily invested in e to securities. refers to lunds retained by the bank on a loan made to the company. ts ff 7. The term 8. The time required for a check to go from the maker to the päyee is referred to as 9. The time needed for a check to clear is referred to as. system is one in which a local bank picks up customer remissions from a 10. A(n). post office box. Page 117 of 161

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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Place an X' in the appropriate columns for each of the following situations to indicate how amounts are classified and how or whether cash is affected: Effect on Cash Operating Investing Financing Activity Inflow (+) Situation Outflow No Activity Activity () Effect a. Paying off accounts payable with cash. b. Retirement of common stock with cash. e. Issuance of bonds for |cash. |d. Acquired land by issuing | common stock. e. Paid cash for inventory. E Collection of accounts receivable with customer cash.
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