[jeff]

SO I know every test is different but does anyone have any insight on what has been heavily tested recently? I take the exam Monday and I need to narrow my focus….Thanks!

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

I just got through the pensions and bonds chapters and am feeling really overwhelmed. Does anyone have any suggestions?

[Anonymous]

Thanks CPA2014Dream, so in what scenario if any would it be investing?

[Anonymous]

Investing Inflows would be interest and dividends collected as return on loans, payments for loan disbursements. Can u post the question?

[jstay]

arent interest and dividends received part of operating?

[Anonymous]

Yeah, interest paid and received is part of operating. Here is the question:

Kollar Corp.’s transactions for the year ended December 31, year 2, included the following:

Purchased real estate for $550,000 cash which was borrowed from a bank.

Sold available-for-sale investment securities for $500,000.

Paid dividends of $600,000.

Issued 500 shares of common stock for $250,000.

Purchased machinery and equipment for $125,000 cash.

Paid $450,000 toward a bank loan.

Reduced accounts receivable by $100,000.

Increased accounts payable by $200,000.

Kollar’s net cash used in investing activities for year 2 was

$675,000

$375,000

$175,000

$ 50,000

Answer C

[jstay]

its c? what else goes into investing besides the 500,000 received from avail for sale securities and the 125,000 outflow for the purchase of equipment

[Anonymous]

Purchased Real Estate for 550,000

[jstay]

ugh!!! would got tha wrong yesterday if that was on my test lol but still idk if i consider that investing-to me that would be non cash transaction cause you used the note to purchase the building and the journal entry being:

Dr: building 550

Cr: Notes payable 550

now if they had used 50 cash from them and 500 from note

dr building 550

cr notes payable 500

cr cash 50

guess im wrong tho

anyone else feel this?

[Anonymous]

@2014cpahopeful

I can tell you from my experience that when I went back through my Becker book/scribbles the second time, without lectures, when I was going through and making certified notes, the harder topics (imo leases, pensions, bonds, deferred taxes) made a lot more sense. TBD on whether I actually got it cause I haven't done multiple choice, but it seemed less overwhelming. Keep fighting the good fight.

[Anonymous]

But it says it was purchased WITH cash that was borrowed from the bank.

[jstay]

so they.

Dr: Cash

Cr N/P

Dr: Building

Cr Cash

[Anonymous]

Yep, that is what I took from it.

[jstay]

that was from ninja?

[Anonymous]

WTB, that question was giving me a lot of trouble.

So the JE for the paid bank loan would be:

DR. NP 450,000

CR. Cash 450,000

?

[jstay]

yeppp believe so

[Author]

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