-Where would you find management's discussion and analysis  report?
A-financial statements
B-independent audit
C-annual report
D-notes to the financial statements
E-income tax returns
F-none of the above are correct
2-On the statement of cash flows, cash paid to suppliers to purchase inventory would be classified as a(n):
1-operating activity
2-investing activity
3-financing activity
4-either an operating activity or an investing activity, depending on the amount paid
5-cash paid to suppliers for inventory purchases would not appear on the statement of cash flows
3-  The following information relates to XYZ Company:

January 1, 2023:
Liabilities ...............  $137,000
Retained earnings .........  $232,000

December 31, 2023:
Total equity ..............  $258,000

During 2023, the assets of XYZ Company decreased by  $65,000, the liabilities decreased by $14,000, andthe common stock increased by $29,000.
Calculate XYZ Company's common stock at January 1, 2023?
4-  The accounting records of Betty DeRose, Inc. revealed the  following account balances as of December 31, 2029:
Dividends .................   $ 21,000
Accumulated depreciation ..   $ 78,000
Income tax expense ........   $ 30,000
Trademark .................   $ 92,000
Supplies ..................   $ 27,000
Sales revenue .............   $201,000
Land ......................       ?
Salaries payable ..........   $ 49,000
Accounts receivable .......   $ 71,000
Retained earnings .........   $ 82,000 (at January 1, 2029)
Notes payable .............   $ 67,000 (due March 1, 2033)
Equipment .................   $102,000
Rental revenue ..........     $ 63,000
Copyright .................       ?
Inventory .................   $113,000
Salaries expense ..........   $ 72,000
Cash ......................   $ 26,000
Common stock ..............       ?
Cost of goods sold ........   $ 54,000
Utilities expense .........   $ 38,000
Accounts payable ..........   $ 51,000

Additional information:
1)  The total P-P-E at December 31, 2029 was equal to $111,000.

2)  The total intangibles at December 31, 2029 were equal  to 25% of the total assets at December 31, 2029.
Calculate the amount of gross profit reported in Betty's  2029 income statement.

Answer rating: 100% (QA)

1 Option C Annual Report Management discussion and analysis report is found in the an... View the full answer