10/9/23, 5:48 PM Practice Final Exam: MBA:8140:0EXO Fall23 Corporate Financial Reporting
Practice Final Exam
Due No due date Points 85 Questions 33 Time Limit 180 Minutes
Instructions
Vail Resorts' financial statements & footnote are listed in thousands. All numerical questions related to the
Vail's financial statements & footnotes should be answered as presented, please do not convert them to
dollars as that is an incorrect response. Please use the most recent fiscal year unless otherwise stated.
Answers will not be available until after all sections have completed the exam.
Have fun!
Vail Resorts 10-K (https://uiowa.instructure.com/courses/222023/files/23568669?wrap=1)
(https://uiowa.instructure.com/courses/222023/files/23568669/download?download_frd=1)
Attempt History
Attempt Time Score
LATEST Attempt 1 60 minutes 66.43 out of 85
Submitted Oct 9 at 5:47pm
Question 1 pts
On a statement of cash flows, which of the following is an example of an
investing activity?
Paying cash dividends
Correct!
Purchase of property, plant, and equipment
Depreciation and amortization
https://uiowa.instructure.com/courses/222023/quizzes/387386 1/24
,10/9/23, 5:48 PM Practice Final Exam: MBA:8140:0EXO Fall23 Corporate Financial Reporting
Question 2 pts
Dozer company announced that it will buy back the company's own shares
(also known as treasury stock). What type of activity would this transaction
be considered on the statement of cash flows.
Operating
Investing
Correct!
Financing
Question 3 pts
A company uses the following equity accounts:
Common Stock xx
Additional Paid in Capital xx
Treasury Stock (xx)
Retained Earnings xx
Accumulated Other Comprehensive
xx
Income
Issuing 1000 shares of common stock (par value of $2 per share) at a price
of $50 per share would have what effect on the company's equity accounts?
Increase Common Stock by $2,000
Increase Treasury Stock by $48,000
Increase Additional Paid in Capital $48,000
Decrease Treasury Stock $2,000
https://uiowa.instructure.com/courses/222023/quizzes/387386 2/24
, 10/9/23, 5:48 PM Practice Final Exam: MBA:8140:0EXO Fall23 Corporate Financial Reporting
Correct!
Increase Common Stock $2,000
Increase Additional Paid in Capital $48,000
Question 4 pts
Suppose the market rate for a company's bonds it 12%, and the company
issues bonds with a coupon rate of 8%. Which of the following is true?
The proceeds from the bond issuance will equal the face value of the bond
The bonds will be issued at a premium
Correct!
The bonds will be issued at a discount
Question 5 pts
Drake sweaters uses LIFO for financial reporting purposes.
Beginning inventory 120 units @ $35 each
Purchases 70 units @ $30 each
During January they sell 120 sweaters. What is the $ amount that would be
assigned to Cost of Goods Sold in January?
Correct!
$3850
$4200
$2100
$2450
https://uiowa.instructure.com/courses/222023/quizzes/387386 3/24
Practice Final Exam
Due No due date Points 85 Questions 33 Time Limit 180 Minutes
Instructions
Vail Resorts' financial statements & footnote are listed in thousands. All numerical questions related to the
Vail's financial statements & footnotes should be answered as presented, please do not convert them to
dollars as that is an incorrect response. Please use the most recent fiscal year unless otherwise stated.
Answers will not be available until after all sections have completed the exam.
Have fun!
Vail Resorts 10-K (https://uiowa.instructure.com/courses/222023/files/23568669?wrap=1)
(https://uiowa.instructure.com/courses/222023/files/23568669/download?download_frd=1)
Attempt History
Attempt Time Score
LATEST Attempt 1 60 minutes 66.43 out of 85
Submitted Oct 9 at 5:47pm
Question 1 pts
On a statement of cash flows, which of the following is an example of an
investing activity?
Paying cash dividends
Correct!
Purchase of property, plant, and equipment
Depreciation and amortization
https://uiowa.instructure.com/courses/222023/quizzes/387386 1/24
,10/9/23, 5:48 PM Practice Final Exam: MBA:8140:0EXO Fall23 Corporate Financial Reporting
Question 2 pts
Dozer company announced that it will buy back the company's own shares
(also known as treasury stock). What type of activity would this transaction
be considered on the statement of cash flows.
Operating
Investing
Correct!
Financing
Question 3 pts
A company uses the following equity accounts:
Common Stock xx
Additional Paid in Capital xx
Treasury Stock (xx)
Retained Earnings xx
Accumulated Other Comprehensive
xx
Income
Issuing 1000 shares of common stock (par value of $2 per share) at a price
of $50 per share would have what effect on the company's equity accounts?
Increase Common Stock by $2,000
Increase Treasury Stock by $48,000
Increase Additional Paid in Capital $48,000
Decrease Treasury Stock $2,000
https://uiowa.instructure.com/courses/222023/quizzes/387386 2/24
, 10/9/23, 5:48 PM Practice Final Exam: MBA:8140:0EXO Fall23 Corporate Financial Reporting
Correct!
Increase Common Stock $2,000
Increase Additional Paid in Capital $48,000
Question 4 pts
Suppose the market rate for a company's bonds it 12%, and the company
issues bonds with a coupon rate of 8%. Which of the following is true?
The proceeds from the bond issuance will equal the face value of the bond
The bonds will be issued at a premium
Correct!
The bonds will be issued at a discount
Question 5 pts
Drake sweaters uses LIFO for financial reporting purposes.
Beginning inventory 120 units @ $35 each
Purchases 70 units @ $30 each
During January they sell 120 sweaters. What is the $ amount that would be
assigned to Cost of Goods Sold in January?
Correct!
$3850
$4200
$2100
$2450
https://uiowa.instructure.com/courses/222023/quizzes/387386 3/24
