MEF Accounting

• 2019 and $100

• 2021 and $150

• 2020 and $150

• 2021 and $100

Taxes on the IS are shown below "the line"

• True

• False

• Operating Income, Revenue, Net Income

• Net Income, EBIT, Revenue

• Revenue, Operating Income, Net Income

• Sales, Taxses, Operating Income

• Assets = Liabilities

• Assets = Liabilities + Shareholders Equity

• Shareholders Equity = Liabilities + Assets

• Liabilities = Assets + Shareholders Equity

• Accounts Recievable

• Deferred Revenue

• Revenue

Pick the option that includes only assets

• cash, office building, accounts receivable, revenue

  
  

• Inventory, accounts receivables, PPE, deferred revenue

  
  

• Prepaid expenses, inventory, retained earnings, treasury stock

  
  

• • Inventory, intangibles, prepaid expenses, goodwill

  
  

• $10Mn in depreciation expense and cash goes up by $10Mn

  
  

• $10Mn in depreciation expense and cash goes down by $10

  
  

• $50Mn in depreciation expense and cash goes down by $10Mn

  
  

• • $10Mn in depreciation expense and cash goes up by $50Mn

  
  

• Changes in WC is +$20 and cash goes up by $20

  
  

• Changes in working capital is +$20 and cash goes down by $20

  
  

• changes in WC is -$20 and cash goes up by $20

  
  

• • Changes in working capital is -$20 and cash goes down by $20

  
  

• Bottom line of IS, Top of CF, is subtracted from Retained earnings on BS

  
  

• Bottom line of IS, top line of CF, flows into retained earnings on BS

  
  

• The line on IS, top line of CF, flows into retained earnings on BS

  
  

• • Bottom line of IS, added to common stock on BS, top of CF

  
  

Select a source of cash

• Short term debt decreases

  
  

• Accounts Receivable goes down

  
  

• accrued expenses decrease

  
  

• • Inventory goes up