FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 14: Statement of Cash Flows

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 61

Multiple Choice

Review LaterAdd Note

Review Later

Accounts receivable resulting from sales to customers amounted to $40,000 and $31,000 at the beginning and end of the year,respectively.Income reported on the income statement for the year was $120,000.Exclusive of the effect of other adjustments,the cash flows from operating activities to be reported on the statement of cash flows is

A) $120,000.
B) $129,000.
C) $151,000.
D) $111,000.

E) A) and B)
F) A) and C)

Correct Answer

verified

Show Answer

Question 62

Essay

Review LaterAdd Note

Review Later

An analysis of the general ledger accounts indicates that equipment,with an original cost of $134,000 and accumulated depreciation of $105,000 on the date of sale,was sold for $20,000 during the year.Using this information,indicate the items to be reported on the statement of cash flows using the indirect method.

Correct Answer

verified

Show Answer

Question 63

True/False

Review LaterAdd Note

If cash dividends of $135,000 were paid during the year and the company sold 1,000 shares of common stock at $30 per share,the statement of cash flows would report net cash flow from financing activities as $165,000.

The following two problems are independent of one another.

Cash flows from investing activities,as part of the statement of cash flows,include receipts from the sale of land.

The net income reported on an income statement for the current year was $63,000.Depreciation recorded on fixed assets for the year was $24,000.Balances of the current asset and current liability accounts at the end and beginning of the year are listed below.Prepare the cash flows from operating activities section of a statement of cash flows using the indirect method.

Cash paid to purchase long-term investments would be reported in the statement of cash flows in

Baxter Company reported a net loss of $13,000 for the year ended December 31,2010.During the year,accounts receivable decreased by $5,000,merchandise inventory increased by $8,000,accounts payable increased by $10,000,and depreciation expense of $4,000 was recorded.During 2010,operating activities

The Dickinson Company reported net income of $155,000 for the current year.Depreciation recorded on buildings and equipment amounted to $65,000 for the year.In addition,a building with an original cost of $250,000 and accumulated depreciation of $190,000 on the date of the sale,was sold for $75,000.Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Instructions Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

If a gain of $11,000 is realized in selling (for cash) office equipment having a book value of $55,000,the total amount reported in the cash flows from investing activities section of the statement of cash flows is

The net income reported on the income statement for the current year was $275,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Cash,as the term is used for the statement of cash flows,could indicate either cash or cash equivalents.

Cash paid to acquire treasury stock should be shown on the statement of cash flows from investing activities.

On the statement of cash flows,the cash flows from operating activities section would include

To arrive at cash flows from operations,it is necessary to convert the income statement from an accrual basis to the cash basis of accounting.

The order of presentation of activities on the statement of cash flows is

Master Designs Company has cash flows for operating activities of $350,000.Cash flows used for investments in property,plant,and equipment totaled $65,000,of which 70% of this investment was used to replace machinery to maintain existing capacity. What is the free cash flow for Master Designs?

Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows?

Which of the following is a noncash investing and financing activity?

The board of directors declared cash dividends total $168,000 during 2014.The comparative balance sheet indicated dividends payable of $46,000 at the beginning of the year and $42,000 at the end of the year.What was the amount of cash payment to stockholders during the year?