Exam 17: Statement of Cash Flows

Flash Limited had the following cash flows during the reporting period: Purchase of intangibles $80 000 Proceeds from sale of plant $36 000 Receipts from customers $853 000 Payments to suppliers $696 000 Interest received $ 36 500 Income taxes paid $57 000 The net cash flows from operating activities was:

Which of the following cash flows may be reported on a net basis by a financial institution? I. Cash payments and receipts for the acceptance and repayment of deposits with a fixed maturity date. II. Cash receipts and payments for the acceptance and repayment of deposits with no fixed maturity date. III. The placement of deposits with and withdrawal of deposits from other financial institutions. IV. Cash advances and loans made to customers and the repayment of those advances and loans.

An item or transaction will qualify for classification as a cash equivalent:

Which of the following cash flows may be reported on a net basis?

The following information was extracted from the records of Vincent Limited: Opening balance of machinery: $840 000 Closing balance of machinery: $960 000 Cost of new machinery: $240 000 Proceeds from sale of machinery: $48 000 (Cost $120 000; Carrying amount $40 000) The total cash flows from investing activities is determined as:

Which of the following items is classified as part of 'operating activities' in the statement of cash flows?

For operating cash flows, the presentation method that separates gross cash inflows from cash outflows is the:

Operating activities on a statement of cash flows are generally associated with:

During the financial year, Jacaranda Limited had a cost of sales amounting to $260 000. Opening and ending balances of related accounts were: Opening balance Closing balance Inventories \ 68000 \ 84000 Accounts Payable \ 102000 \ 112000 A discount of $8 000 for prompt payment was received. The amount of cash paid for goods purchased during the year was:

During the financial year Delilah Limited had sales of $284 000. The opening balance of accounts receivable was $36 000, and the closing balance was $45 000. Bad debts amounting to $2 600 were written off during the period. The cash receipts from sales during the year amounted to: