1.Cash flows from financing activities include:

Interest received.

Interest paid.

Dividends received.

Cash dividends paid.

2.A machine has a cost of $15,000, an estimated residual value of $3,000, and an estimated useful life of four years. The machine is being depreciated on a straight-line basis. At the end of the second year, what amount will be reported for accumulated depreciation?

$9,000.

$6,000.

$7,500.

$3,000.

3.On 1/1/20X1, PDQ Corp issues $2.5 million of 15-year bonds at par value. The journal entry to record the issuance of bonds on 1/1/20X1 would include which of the following:

Debit Interest Expense $2.5 million

Credit Cash $2.5 million

Credit Bonds Payable $2.5 million

Debit Bonds Payable $2.5 million

Credit Interest Expense $2.5 million

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