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Question 21 2.5 pts

Total assets on the balance sheet include

Group of answer choices

current assets - fixed assets - depreciation.

current assets - fixed assets + depreciation.

current assets + fixed assets - depreciation.

current assets + fixed assets + depreciation.

None of these.

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Question 22 2.5 pts

Janet has a company that pays all employees a salary on the first and the fifteenth of the month. Her normal payroll is $10,000 per pay period. On the last day of the month she would have shown

Group of answer choices

$10,000 as an operating expense under salaries on the income statement.

$10,000 as payroll payable on the balance sheet.

$10,000 as a cash flow from operating expenses on the statement of cash flows.

$10,000 as cost of goods sold on the income statement.

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Question 23 2.5 pts

Depreciation expense

Group of answer choices

is listed on the income statement as a variable expense.

is subtracted from the statement of cash flows.

is added to the statement of cash flows because it is not an expenditure.

appears only on the income statement.

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Question 24 2.5 pts

The final step in generating a statement of cash flows is to

Group of answer choices

sum up cash flow from operations and transfer it to the balance sheet.

sum up cash flow from investing activities and transfer it to the balance sheet.

sum up cash flow from operations, financing, and investment activities and transfer it to the balance sheet.

None of these.

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