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Acct 1101 Ch 2 In-Class

Total questions: 10

Worksheet time: 15mins

Name
Class
Date
1.

The balance of the accounts receivable that would be reported on the December 31, Year 2, balance sheet.

(a)  

2.

The amount of net income that would be reported on the Year 2 income statement.

(a)  

3.

The amount of net cash flow from operating activities that would be reported on the Year 2 statement of cash flows.

(a)  

4.

What amount does the company owe to employees at the end of the year?

(a)  

5.

The amount of retained earnings that would be reported on the Year 2 balance sheet.

(a)  

6.

What amount of interest expense will the company recognize for the year ending December 31, Year 2?

(a)  

7.

What amount of cash will the company pay for interest expense in Year 2?

a)
$0
b)
$275
c)
$5,000
8.

What is the amount of interest payable as of December 31, Year 2?

(a)  

9.

What amount of interest expense will the company recognize in Year 3?

(a)  

10.

What is the amount of cash the company will pay for interest in Year 3?

a)

$25

b)

$300

c)

$275

d)

$5,300