saxena ltd had revenue of 1000 depreciation and amortization expense 702920

Question 1

During the quarter, Menon N Inc. collected $100 of cash from customers, paid $60 of cash to suppliers, paid $30 of cash to employees and other creditors, and recorded a $5 loss on sale of equipment. There were no other cash flows related to operating activities.

What was Menon N’s Cash Flow from Operations during the quarter?

1. $25
2. $5
3. $10
4. $15
5. $20

Question 2

Saxena Ltd. had Revenue of $1000, Depreciation and Amortization Expense of $100, Interest Expense of $100, and Tax Expense of $50. All other Expenses were $400. What was Saxena’s EBITDA?

1. $1000
2. $250
3. $400
4. $500
5. $600

Question 3

Mangini Co.’s Balance Sheet had the following line item:

12/31/2012 12/31/2011

Accounts Receivable, net of allowances of $500 and $450, respectively $9,200 $8,400

What percentage of gross accounts receivable does Mangini expect to be uncollectable as of 12/31/2012?

1. 5.15%
2. 4.43%
3. 5.08%
4. 5.36%
5. 5.01%

Question 4

Odaine Inc.’s footnotes had the following line item:

12/31/2012 12/31/2011

Allowance for Doubtful Accounts $800 $650

Odaine also disclosed that Bad Debt Expense was $1000 in 2012 and $890 in 2011. There were no recoveries of previously written off accounts in either year. What were total write offs of uncollectable accounts for the year ended 12/31/2012?

1. $800
2. $150
3. $110
4. $850
5. $1,150

Question 5

JannaChan Ltd.’s Statement of Cash Flows had the following line items:

2012 2011

Bad Debt Expense, net $1,500 $350

Increase in Accts Receivable $(6,600) $(2,900)

JannaChan reported Sales of $150,000 during the year ended 12/31/2012. There were no write offs or recoveries during 2012. How much cash did JannaChan collect from customers during the year ended 12/31/2012?

1. $143,400
2. $156,600
3. $150,000
4. $148,500
5. $141,900

Question 6

A retail company, Telmo Mart, had the following line item on its Balance Sheet:

12/31/2012 12/31/2011

Inventory $5,500 $5,100

Telmo Mart’s Income Statement had the following line item:

2012 2011

Cost of Goods Sold $91,000 $87,000

How much inventory did Telmo Mart purchase during the year ended 12/31/2012?

1. $90,600
2. $86,600
3. $91,400
4. $91,000
5. $87,400

Question 7

Nguyen Co. incurred the following costs during the quarter:

Raw materials used in production $132,000

Marketing materials used by sales staff $114,000

Wages of factory workers $191,000

Salaries of sales staff $391,000

Depreciation on factory and production equipment $152,000

Depreciation on headquarters building $132,000

Manufacturing overhead $172,000

How much of these costs would have been recorded in Nguyen’s Work in Process Inventory account during the quarter?

1. $779,000
2. $495,000
3. $1,252,000
4. $647,000
5. $488,000

Question 8

A manufacturing company, Kutty Industries Ltd., had the following line items in a footnote:

12/31/2012 12/31/2011

Raw Materials $150 $140

Work in Process $215 $200

Finished Goods $250 $240

$615 $580

LIFO Reserve $(100) $(60)

Total Inventory $515 $520

Kutty Industries’ Income Statement had the following line item:

2012 2011

Cost of Goods Sold $1,850 $1,725

What would Kutty Industries’s Cost of Goods Sold had been if they had used the FIFO inventory method for the year ended 12/31/2012?

1. $1,750
2. $1,950
3. $1,810
4. $1,890
5. $1,850

Attachments:

Week 2.docx