tco a the dividends account points 5 501255

(TCOs A, B) Below is a partial list of account balances for Cerner Company:

Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500

What did Cerner Company show as total credits? (Points : 5)

(TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____. (Points : 5)

(TCO D) Two companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)

(TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours? (Points : 5)

(TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)

(TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)

(TCO F) One variation of the horizontal analysis is known as _____. (Points : 5)

(TCO F) Vertical analysis is also known as _____. (Points : 5)

(TCO F) Which one of the following is not a characteristic generally evaluated in ratio analysis? (Points : 5)

(TCO F) Short-term creditors are usually most interested in assessing _____. (Points : 5)

(TCO F) Return-on-assets ratio is most closely related to _____. (Points : 5)

(TCO G) To calculate the market value of a bond, we need to use the time-value-of-money concept called _____. (Points : 5)