Exam 24: The Statement of Cash Flows

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The statement of cash flows assumes that the ____________________ basis of accounting is used when recording transactions and preparing the balance sheet and income statement.

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Question 101

On a statement of cash flows,depreciation expense is

(Multiple Choice)

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Question 102

Issuing stock for cash and paying dividends in cash would be classified as ____________________ activities on the statement of cash flows.

(Essay)

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Question 103

Current assets and current liabilities are often referred to as operating assets and liabilities.

(True/False)

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Question 104

On the statement of cash flows,it is necessary to reconcile the ____________________ with the net cash provided by operating activities.

(Essay)

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Question 105

The starting point for analyzing cash flows from operating activities is the beginning balance of cash.

(True/False)

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Question 106

An example of a financing activity is

(Multiple Choice)

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Question 107

The Other Income and Other Expense sections of an Income Statement are shown below.In preparing the Cash Flows from Operating Activities section of the statement of Cash Flows using the indirect method,indicate how each item would be handled.(Assume all line items involved cash. )

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Question 108

The Natural Company's cash balance at December 31,2016,was $150,000.The following information was reported on the company statement of cash flows for 2017: The Natural Company's balance sheet would report the balance of Cash on December 31,2017.

(Multiple Choice)

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Question 109

Anders Inc,reported that its bonds with a par value of $500,000 and a carrying value of $525,000 was retired for $545,000 resulting in a loss of $20,000.The amounts to be reported under the cash flows include:

(Multiple Choice)

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Question 110

The following transactions occurred at the Lionel Corporation in 2015.Use this information to prepare Lionel's schedule of cash flows from investing activities. A)The company sold a used truck for $4,000 in cash.The original cost of the truck was $19,000.Depreciation of $14,000 had been deducted. B)The company purchased some new equipment for $25,000.

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Question 111

Cash and cash equivalents,as used on the statement of cash flows,consist of

(Multiple Choice)

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Question 112

An increase or decrease in accounts payable during a fiscal period has no effect on the net cash provided by operating activities.

(True/False)

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Question 113

Interest expense is treated as an outflow of cash from a financing activity.

(True/False)

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Question 114

Showing 101 - 114 of 114

Exam 24: The Statement of Cash Flows

The statement of cash flows assumes that the ____________________ basis of accounting is used when recording transactions and preparing the balance sheet and income statement.

On a statement of cash flows,depreciation expense is

Issuing stock for cash and paying dividends in cash would be classified as ____________________ activities on the statement of cash flows.

Current assets and current liabilities are often referred to as operating assets and liabilities.

On the statement of cash flows,it is necessary to reconcile the ____________________ with the net cash provided by operating activities.

The starting point for analyzing cash flows from operating activities is the beginning balance of cash.

An example of a financing activity is

The Other Income and Other Expense sections of an Income Statement are shown below.In preparing the Cash Flows from Operating Activities section of the statement of Cash Flows using the indirect method,indicate how each item would be handled.(Assume all line items involved cash. )

The Natural Company's cash balance at December 31,2016,was $150,000.The following information was reported on the company statement of cash flows for 2017: The Natural Company's balance sheet would report the balance of Cash on December 31,2017.

Anders Inc,reported that its bonds with a par value of $500,000 and a carrying value of $525,000 was retired for $545,000 resulting in a loss of $20,000.The amounts to be reported under the cash flows include:

Cash and cash equivalents,as used on the statement of cash flows,consist of

An increase or decrease in accounts payable during a fiscal period has no effect on the net cash provided by operating activities.

Interest expense is treated as an outflow of cash from a financing activity.

Accounting: the Language of Business

Analyzing Business Transactions

Analyzing Business Transactions Using T Accounts

The General Journal and the General Ledger

Adjustments and the Worksheet

Closing Entries and the Postclosing Trial Balance

Accounting for Sales and Accounts Receivable

Accounting for Purchases and Accounts Payable

Cash Receipts, Cash Payments, and Banking Procedures

Payroll Computations, Records, and Payment

Payroll Taxes, Deposits, and Reports

Accruals, Deferrals, and the Worksheet

Financial Statements and Closing Procedures

Accounting Principles and Reporting Standards

Accounts Receivable and Uncollectible Accounts

Notes Payable and Notes Receivable

Merchandise Inventory

Property, Plant, and Equipment

Accounting for Partnerships

Corporations: Formation and Capital Stock Transactions

Corporate Earnings and Capital Transactions

Long-Term Bonds

Financial Statement Analyses

Departmentalized Profit and Cost Centers

Accounting for Manufacturing Activities

Job Order Cost Accounting

Process Cost Accounting

Controlling Manufacturing Costs: Standard Costs

Cost-Revenue Analysis for Decision Making

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