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    Tin
    This document contains a final exam for a fundamentals of accountancy, business, and management course. The exam has three sections: 1) Identification, where students must identify 15 business transactions as either financing, investing, or operating activities; 2) Modified True/False, with 10 statements where students write true or false and correct any underlined parts to make the statement true; 3) Problem Solving, where students prepare a cash flow statement for a company called Rocky Corporation based on transaction information provided, showing operating, investing, and financing cash flows to reconcile the ending cash balance.

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    FABM

    Uploaded by

    Tin
    46 views2 pages
    This document contains a final exam for a fundamentals of accountancy, business, and management course. The exam has three sections: 1) Identification, where students must identify 15 business transactions as either financing, investing, or operating activities; 2) Modified True/False, with 10 statements where students write true or false and correct any underlined parts to make the statement true; 3) Problem Solving, where students prepare a cash flow statement for a company called Rocky Corporation based on transaction information provided, showing operating, investing, and financing cash flows to reconcile the ending cash balance.

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    This document contains a final exam for a fundamentals of accountancy, business, and management course. The exam has three sections: 1) Identification, where students must identify 15 business transactions as either financing, investing, or operating activities; 2) Modified True/False, with 10 statements where students write true or false and correct any underlined parts to make the statement true; 3) Problem Solving, where students prepare a cash flow statement for a company called Rocky Corporation based on transaction information provided, showing operating, investing, and financing cash flows to reconcile the ending cash balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    46 views2 pages

    FABM

    Uploaded by

    Tin
    This document contains a final exam for a fundamentals of accountancy, business, and management course. The exam has three sections: 1) Identification, where students must identify 15 business transactions as either financing, investing, or operating activities; 2) Modified True/False, with 10 statements where students write true or false and correct any underlined parts to make the statement true; 3) Problem Solving, where students prepare a cash flow statement for a company called Rocky Corporation based on transaction information provided, showing operating, investing, and financing cash flows to reconcile the ending cash balance.

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    © All Rights Reserved
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    SAN JUAN INSTITUTE OF TECHNOLOGY

    FINAL EXAMINATION IN FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 2

    Name: __________________________________________ Date:


    ________________
    Grade Level & Section: _________________________

    I. IDENTIFICATION. Read and analyze the statements carefully. Identify the type of activity involved in each
    business transaction. Choose the correct answer from the box and write it on the blank before each number.

    Financing Investing Operating


    ________________ 1. Proceeds from bank loan
    ________________ 2. Collection from customers
    ________________ 3. Purchase of office supplies
    ________________ 4. Purchase of equipment
    ________________ 5. Selling of a building
    ________________ 6. Receipts from the sale of goods
    ________________ 7. Selling of property, plant, and equipment
    ________________ 8. Investment from owners
    ________________ 9. Payment made to suppliers for goods and services
    ________________ 10. Interest received
    ________________ 11. The company paid the salaries of the management team in cash.
    ________________ 12. Cash was received due to a time deposit account redemption.
    ________________ 13. Cash was paid on a loan mortgage used to purchase a building.
    ________________ 14. For the staff's insurance, money was paid in advance.
    ________________ 15. The company paid taxes and licenses in cash.

    II. MODIFIED TRUE OR FALSE. Read and analyze the following statement. Write true if the statement is
    correct. Otherwise, write false, then correct the statement by replacing the underlined word or phrase to make
    the statement true. (2 points each)

    ________________ 1. The Statement of Cash Flow provides an analysis of cash inflow due to operating,
    investing, and financing activities.
    ________________ 2. Drawings are added to the owner’s equity account.
    ________________ 3. Cash payments for bank loans are reported under cash flows from operating activities.
    ________________ 4. A company's ability to create cash is harmed by negative cash flow from investing
    activities.
    ________________ 5. Cash receipts from the selling of goods and the provision of services increase the cash
    inflow.
    ________________ 6. The indirect method of preparing SCF records the gross cash receipts and payments
    from operating, investing, and financing activities.
    ________________ 7. The Statement of Cash Flows reports all transactions.
    ________________ 8. The indirect method is used by companies that use the accrual method in their
    accounting system.
    ________________ 9. The indirect method starts with the net income and make adjustments to reconcile
    these with actual cash flows.
    ________________10. New investments from owners or withdrawals are listed under the financing activities.

    III. PROBLEM SOLVING. Read, analyze and solve the following problems. Show your solution on the space
    provided. Do it completely and neatly. (15 points)

    Prepare a Cash Flow Statement for Rocky Corporation based on the information below, highlighting its
    operating, investing, and financing operations. You must demonstrate that Rocky Corp's cash balance at the
    end of the period is reconciled.

    Rocky Corporation

    Rocky's cash account has a starting sum of ₱129,937.50. The company's year-end
    balance is ₱254,925. The table below summarizes the transactions from Rocky
    Company's account.

    Customers' funds were received in cash. ₱ 725,175.00


    Payments to providers 300,547.50

    Turn your dreams into reality…


    SAN JUAN INSTITUTE OF TECHNOLOGY
    Other operational expense payments 58,850.00
    Salary payments 19,992.50
    Equipment Purchase 253,000.00
    Equipment for delivery was sold. 6,875.00
    Proceeds from the sale of computer hardware 42,762.50
    Owners' withdrawals 229,350.00
    Proceeds received through a bank loan 82,500.00
    Owners' contributions 137,500.00

    ______________________________
    ________________________________________
    ____________________________

    _________________________________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    ________________
    _________________________________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    ________________
    _________________________________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    __________________________________________ ___________________
    ________________
    _________________________________________ ________________
    _________________________________________
    ________________
    _________________________________________
    ________________

    GOOD LUCK!!!

    “Honesty is the fastest way to prevent a mistake from turning into a failure.”

    Prepared by:

    Kristine S. Cabos
    Subject Teacher

    Turn your dreams into reality…

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