1. A retail store collects cash Sales OF $168,000 and does not segregate sales tax. If the sales
tax rate is 5% what are the sales of the retail store?
a. $160,000
b. $158,000
c. $8,400
d. $8,000
2.Quick Lube Corporation had the following transactions:
1. Proceeds from Bond Issuance $300,000
2. Payment of Operating Expenses 100,000
3. Taxes Paid 5,000
4. Payment of Dividends 70,000
3.What is the amount of net cash provided (used) by financing activities?
a. $400,000
b. $475,000
c. $230,000
d. $295,000
4.. BTW Inc. had the following transactions:
1. Proceeds from Bond Issuance $300,000
2. Net Income 2,500,000
3. Dividends Paid 5,000
4. Depreciation Expense 110,000
5.What is the amount of net cash provided (used) by operating activities?
a. $2,610,000
b. $4,070,500
c. $2,300,000
d. $2,395,000
6. Free Cash Inc reported cash provided by operations of $405,000, capital expenditures of $200,000, net sales of 11,000,000 and dividends of $100,000. What is the free cash flow:
a. $105,000
b. 10,900,000
c. $205,000
d. $405,000