Quiz – Plano Co., multiple-step income statement
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given a trial balance along with the amount of outstanding stock, they ask you to prepare a multiple-step income statement.
Given a trial balance along with the amount of outstanding stock, they ask you to prepare a multiple-step income statement.
Given a trial balance along with information about the outstanding stock, they ask you to prepare a statement of comprehensive income.
Given information about cash received and cash paid they ask you to prepare a statement of cash flows using the direct method for operating.
Find how much the company would report a before-tax loss on discontinued operations.
Given net income, depreciation expense, decrease in accounts receivable, inventory, prepaid insurance, salaries payable, and interest payable. Ask you to prepare a reconciliation of net income to net cash flows.
They give you accounts from a trial balance and ask you to prepare a multi-step income statement and a separate statement of comprehensive income.
Given accounts from a trial balance they ask you to prepare a continuous multi-step statement of comprehensive income.
Given details on what cash was received for and what cash was paid for they ask you to determine the cash flows from investing and financing activities.
Given the amount of income tax payable decreased along with the income tax payable they ask you to determine the cash outflow.
Given the sale and cost of equipment, they ask you to determine what the company would report.