RECOMMENDED!!In terms of total sales, assets, and earnings

  

CHAPTER 101. In terms of total sales, assets, and earnings, the dominant form of business organization is a:Sole proprietorship.Partnership.Corporation.Limited liability company (LLC).2.Issued stock refers to the number of shares:Outstanding plus treasury shares.Authorized.In the hand of stockholders.That may be issued under state law.3.The par value of common stock represents:The amount received when the stock was issued.The liquidation value of a share.The market value of a share of stock.The legal capital per share of stock assigned when the corporation was first established.4.Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance?Credit Common Stock $300,000.Credit Cash $300,000.Credit Common Stock $15,000.Debit Additional Paid-In Capital $285,000.5.The Retained Earnings balance reported on the balance sheet typically is affected by:Net income.Net loss.Dividends paid.All of the above.6.Treasury Stock:Has a normal credit balance.Decreases stockholders’ equity.Is recorded as an investment.Increases stockholders’ equity.7.A feature common to both stock splits and stock dividends isThat there is no effect on total stockholders’ equity.A reduction in the contributed capital of a corporation.A transfer to earned capital of a corporation.An increase in total liabilities of a corporation.CHAPTER 111.The Statement of Cash Flows:Lists all cash flows over the life of a company.Breaks down all cash transactions into investing and financing cash flows.Shows that the change in total cash from one year to the next is equal to the net operating, investing, and financing cash flows.Has two methods for investing cash flows – direct and indirect.2.The sale of a good or service is classified in the statement of cash flows as a(n):Investing activity.Operating activity.Financing activity.Noncash activity.3.Operating cash flows exclude:Interest received.Interest paid.Dividends received.Dividends paid.4. Dividends received from an investment is classified as a(an) __________ cash flow, and paying dividends on stock issued is classified as a(an) ____________ cash flow on the Statement of Cash Flows.Operating; OperatingOperating; FinancingFinancing; OperatingInvesting; Financing5._________ is an investing cash flow and ________ is a financing cash flow, as reported on the Statement of Cash Flows.Issuing bonds; selling investmentsPurchasing land; repaying a bank loanReceiving cash from the sale of inventory; paying cash dividendsPurchasing treasury stock; lending cash to an employee6.Cash flows from financing activities do not include:Retirement of bonds payable.Cash dividends paid.Issuance of common stock.Interest received.