Acct 405

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Grading Summary |

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date Taken: | 2/5/2012 |

Time Spent: | 39 min , 48 secs |

Points Received: | 6 / 10  (60%) |

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Question Type: | # Of Questions: | # Correct: |

Multiple Choice | 5 | 3 |

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Grade Details |

 1. | Question : | (TCO 3) Where do dividends paid by a subsidiary to the parent company appear on a consolidated statement of cash flows? |

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  | Student Answer: | | Cash flows from operating activities |

  | | | Cash flows from investing activities |

  | | | Cash flows from financing activities |

  | | | Supplemental schedule of non-cash investing and financing activities |

  | | | They do not appear on the consolidated statement of cash flows |

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  | Points Received: | 2 of 2 |

  | Comments: | |

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 2. | Question : | (TCO 3) With regard to the intercompany sale, which of the following choices would be a debit entry in the consolidated worksheet for 2009? |

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  | Student Answer: | | Retained earnings |

  | | | Cost of goods sold |

  | | | Inventory |

  | | | Investment Strickland Company |

  | | | Additional paid-in capital |

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  | Points Received: | 0 of 2 |

  | Comments: | |

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 3. | Question : | (TCO 3) A company had common stock with a total par value of $18,000,000 and fair value of $62,000,000; and 7% preferred stock with a total par value of $6,000,000 and a fair value of $8,000,000. The book value of the company was $185,000,000. If 90% of this company's equity was acquired by another, what portion of the value would be assigned to the non-controlling interest? |

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  | Student Answer: | | $18,500,000 |

  | | | $7,000,000 |

  | | | $6,200,000 |

  | | | $2,400,000 |

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