Computation of cash flows An analysis of changes in selected balance sheet accounts of Gable Corporation shows the following for the current year:
The income statement for the current year included the following items relating to the transactions summarized above:
All payments and proceeds relating to these transactions were in cash. Using this information, compute the following cash flows for the current year:
What will be an ideal response?
(a) $250,000 (debit entries to Marketable Securities account)
(b) $485,000 ($400,000 credit entries + $85,000 gain on sale)
(c) $700,000 (debit entries to plant asset accounts)
(d) $450,000
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Which of the following appears on both the income statement and statement of retained earnings?
A) Ending stockholders' equity B) Total revenues C) Net income D) Dividends
The need-satisfaction sales approach:
A) strives to discover a customer's needs during the first part of the sales call and then provide solutions to those needs B) requires the two organizations to develop a common mission C) requires employees from the selling organization to analyze the buyer's business D) uses specific statements (stimuli) to elicit specific responses from customers