BUSN 5200 Week 2 Quiz

BUSN 5200 Week 2 Quiz | Webster University

Question 1

Which financial statement displays the revenues and expenses of a company for a period of time?

Income statement  

Balance sheet  

Cash flow statement  

Statement of stockholder's equity

Question 2

Which of these is not included as a separate item in the basic accounting equation?

Income statement

Balance sheet 

Cash flow statement  

Statement of stockholder's equity

Question 3

What financial statement lists assets from current to long term?

Balance sheet  

Income statement  

Cash flow statement 

Statement of retained earnings

Question 4

EBIT is defined as

earnings before interest and state taxes  

earnings before income and state taxes  

earnings before income and total liabilities  

earnings before interest and taxes

Question 5

On which of the four major financial statements would you find the common stock and paid-in surplus?

Statement of retained earnings 

Income statement

Balance sheet  

Statement of cash flows

Question 6

These are cash inflows and outflows associated with buying and selling of fixed or other long-term assets.

Cash flows from financing activities  

Cash flows from investing activities  

Cash flows from operations  

Net change in cash and cash equivalents

Question 7

Webster Company has a beginning balance in Retained Earnings of $46,000. They earned a net income of $4,000 during the year and paid out $6,000 in dividends.  What is the ending balance in Webster Companies Retained Earnings account at the end of the year?  (Answer in whole $s without the $ sign or comma, i.e. 12345.)

Question 8

ABC Company has the following balances at the end of their fiscal year:

Cash      10,000

Accounts Receivable      5,000

Long Term Debt                3,000

Accounts Payable            1,000

Inventory            4,000

Based on only these account balances, calculate the total owners equity at the end of the year. ( (Answer in whole $s without the $ sign or comma, xxxxx, e.g. 12000.)

Question 9

Calculate the cash dividends paid out to common stockholders based on the following information:

Balance of retained earnings, December 31, 2016 =          392,000,000

Net Income for 2017      18,000,000

Dividends paid to preferred stockholders             1,000,000

Balance of retained earnings, December 31, 2017             380,000,000

(Answer in Millions of dollars, with no 0s or $ sign needed, e.g. xx, or 12)

Question 10

XYZ Company has a cash balance of 8,000 and an accounts receivable balance of 6,000.  Their accounts payable balance is 13,000 and the company incurred research and development expenses during the year of 3,000 which have already been paid.  Their inventory balance is 2,500.  Calculate the working capital. (Answer in whole $s with no comma or $ sign needed, e.g. xxxxx or 12500)