Identify the transaction that will lead to a misstatement of cash at December 31, 2019 Bank Transfer Schedule Disbursements Receipts Transfers Recorded in books Paid by bank Recorded in books Received by bank (1) 12-31-19 1-4-20 12-31-19 12-31-19 (2) 1-4-20 1-5-20 12-31-19 1-4-20 (3) 12-31-19 1-5-20 12-31-19 1-4-20 (4) 1-4-20 1-11-20 1-4-20 1-4-20

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Answer 1

Question

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

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During 2019, Bitsincoins Corporation had EBIT of $100,000, a change in net fixed assets of $400,000, an increase in net current assets of $100,000, an increase in spontaneous current liabilities of $400,000, a depreciation expense of $50,000, and a tax rate of 30%. Based on this information, what is Bitsincoin’s free cash flow?

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Answer 2

Question

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

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Answer 3

Question

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

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Answer 4

Question

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

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Answer 5

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

Answer 6

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

Answer 7

Chapter 23, Problem 16.1MCQ

To determine

Identify the transaction that will lead to a misstatement of cash at December 31, 2019

Bank Transfer Schedule
Disbursements Receipts
Transfers Recorded in books Paid by bank Recorded in books Received by bank
(1) 12-31-19 1-4-20 12-31-19 12-31-19
(2) 1-4-20 1-5-20 12-31-19 1-4-20
(3) 12-31-19 1-5-20 12-31-19 1-4-20
(4) 1-4-20 1-11-20 1-4-20 1-4-20

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 23 - Explain the relationships among the initial...Ch. 23 - Prob. 2RQ Ch. 23 - Prob. 3RQ Ch. 23 - Prob. 4RQ Ch. 23 - Prob. 5RQ Ch. 23 - Prob. 6RQ Ch. 23 - Prob. 7RQ Ch. 23 - Prob. 8RQ Ch. 23 - Prob. 9RQ Ch. 23 - Prob. 10RQ

Solution Summary: The author identifies the transaction that will lead to a misstatement of cash at December 31, 2019 by identifying the date of disbursement and receipt in the books of accounts before the year end.

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Chapter 23 Solutions

Bank Transfer Schedule
	Disbursements		Receipts
Transfers	Recorded in books	Paid by bank	Recorded in books	Received by bank
(1)	12-31-19	1-4-20	12-31-19	12-31-19
(2)	1-4-20	1-5-20	12-31-19	1-4-20
(3)	12-31-19	1-5-20	12-31-19	1-4-20
(4)	1-4-20	1-11-20	1-4-20	1-4-20