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15 Question 24 (4 points) Which of the following is true? 18 Interest Expense paid on a note payable is reported as an operating activity in the Statement of Cash Flows. 21 Dividends always decrease Retained Earnings. 24 Cash received for future services is reported as an operating activity in the Statement of Cash Flows 22 A stock dividend is not reported on the Statement of Cash Flows. 30 All of the above are true statements. Question 25 (4 points) The Vedder Co. declared a 2 for 1 stock split on its common stock. Immediately before the split, the Vedder Co. reported the following: 36 Question 25 (4 points) The Vedder Co. declared a 2 for 1 stock split on its common stock. Immediately before the split, the Vedder Co. reported the following: Market value per share $100.00 per share Par value per share $10.00 per share Number of shares issued 50,000 shares Number of shares outstanding 50,000 shares Immediately after the 2 for 1 stock split, which of the following statements would be true? There would be 2,000,000 shares of stock outstanding immediately after the 2 for 1 stock split Par value would be $5.00 per share immediately after the 2 for 1 stock split. Market Value would be $200.00 per share immediately after the 2 for 1 stock split. 9 Total market value would increase to $200,000,000 24 Question 28 (4 points) On March 1st, the Kamela Co. borrowed $10,000 from First Southern Bank and signed a one year note with an interest rate of 6%. All payments for principal and interest will be paid at the end of 1 year on Feb 28th. The Kamela Co. fiscal year ends on December 31st. At the end of the 1st year, the financial statements of the Kamela Co. will include: 27 30 33 Interest Expense of $450 and Interest Payable of $450. Interest Expense of $500 and Interest Payable of $500, Interest Payable of $450 and Retained Earnings of $450. Interest Revenue of $500 and Interest Receivable of $500. 36 39 Saved Question 29 (4 points) FICA includes

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