FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 12: Reporting and Interpreting the Statement of Cash Flows

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 81

Multiple Choice

Review LaterAdd Note

Review Later

Which of the following are used to determine cash flows from financing activities?

A) Short-term debt, Accrued Liabilities, Common Stock, and Notes Payable
B) Long-term debt, Common Stock, and Retained Earnings
C) Short-term debt, Accrued Liabilities, Retained Earnings, and Bonds Payable
D) Long-term debt, Notes Payable, Interest Expense, and Bonds Payable

E) B) and D)
F) None of the above

Correct Answer

verified

Show Answer

Question 82

Multiple Choice

Review LaterAdd Note

Review Later

The cash flow statement should be evaluated by examining the cash flow pattern suggested by the:

A) subtotals of each of the three main sections.
B) operating activities section since this section details the day to day operations of the business.
C) change in cash regardless of which section had the biggest impact on the change.
D) financing section since this section details how much debt the company has incurred.

E) B) and C)
F) B) and D)

Correct Answer

verified

Show Answer

Question 83

Multiple Choice

Review LaterAdd Note

All of the following might be used to evaluate cash flow performance,except:

Which of the following is included in the financing activities on a statement of cash flows?

When using the T-account approach to preparing the indirect method of the statement of cash flows,which of the following would be associated with amounts entered on the credit side of the Cash T-account?

Supplemental disclosures required by companies using the indirect method include all of the following except:

If the calculation of cash flows from operating activities starts with net income,the company:

Which of the following would be reported as a cash outflow from investing activities?

Cash flows from financing activities include all of the following except:

Which of the following statements about the statement of cash flows is not correct?

When preparing the operating activities section of the statement of cash flows using the indirect method,a decrease in accounts receivable is subtracted from net income.

The Extra Surplus Company's Balance Sheet for December 31,2015 and the Income Statement for 2016 are shown below. Additional data: -Sales were $13,000; $8,000 in cash was received from customers. -Bought new land for cash,$10,000. -Sold other land for its book value of $5,000. -Paid $1,000 principal on the long-term note payable and $1,000 in interest. -Issued new shares of stock for $10,000 cash. -Cash dividends of $1,000 were declared and paid to stockholders. -Paid $5,500 on accounts payable. -No inventory purchases were made; other expenses were incurred on account. -All wages were paid in cash. -Other expenses were on account. Required: Part a.Prepare a balance sheet at December 31,2016. Part b.Prepare the statement of cash flows using the direct method.

Use the information above to answer the following question.What was the amount of cash paid for purchases of equipment during the year?

The following additional information is available from the financial statements of Hitchens Company: What is the net cash provided by operating activities?

Cash flows from operating activities include all of the following except:

Consider the following information: Required: Use the indirect method to compute the amount of net cash flows provided by (used in)operating activities.

Company X paid Company Y $1.35 million for a new plant.During the same accounting period,Company X experienced the following changes in its balance sheet: Cash decreased by $350,000,Accounts Receivable increased by $321,300,Inventory increased by $275,800,Property,Plant,and Equipment increased by $752,900,and Bonds Payable increased by $1 million.The net cash flow provided by financing activities is:

Major investing and financing activities that do not involve cash do not have to be reported as part of the statement of cash flows.

In arriving at cash from operating activities,subtracting a decrease in Salaries and Wages Payable from net income includes the cash effects of transactions that:

During the current year,Todd Electronics had $610,000 in cash sales and $2,220,000 in credit sales.The Accounts Receivable balance was $530,000 at the beginning of the year and $425,000 at the end of the year.What was the total cash collected from customers during the year?