These are all the answers to the test
1. Debt Collection
2. A nominal ledger
3. Investment
4. A trial balance
5. All of the above
6. Income Statement
7. Cash flow Statement
8. Snapshot
9. To show managers and investors whether the company made or lost money during the period being reported.
Just took the Test and got a 100!
They might not have the money to invest in a buisness
Answer:
$0.5 million
Explanation:
Given: Net sales= $326.7 million
Current liabilities, beginning of year $41.1 million
Current liabilities, end of year $62.4 million
Net cash provided by operating activities $10.4 million
Total liabilities, beginning of year $65.2 million
Total liabilities, end of year $73.2 million
Capital expenditures $3.7 million
Cash dividends $6.2 million
Now, compute free cash flow.
Formula: Free cash flow= 
Free cash flow= 
∴ Free cash flow= $0.5 million
Free cash flow of firm is useful to know the profitability of company excluding all non cash expense from firm´s income statement.
Answer:
$35,000
Explanation:
According to accounting standard IFRS 16 Property, Plant and Equipment is initially recorded at its cost. Estimated market value and offer price will not be considered to record this transaction. Cost incurred for this equipment is as follow:
Cash payment = $15,000
Note payable = $20,000
Total Cost = $15,000 + $20,000 = $35,000