Exam 12: Statement of Cash Flows

The following data are available for Alamo Corporation. Sale of land \ 225,000 Sale of equipment \ 130,000 Issuance of common stock 140,000 Purchase of equipment 70,000 Payment of cash dividends 120,000 Net cash provided by investing activities is:

During 2017, Harvey Industries reported cash provided by operations of $670,000, cash used in investing of $1,039,000, and cash used in financing of $145,000. In addition, cash spent for fixed assets during the period was $404,000. No dividends were paid. Based on this information, what was Harvey's free cash flow?

The statement of cash flows will not report the

In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $180,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

The following data are available for Sampson Corporation. Net income \ 200,000 Depreciation expense 60,000 Dividends paid 90,000 Loss on sale of land 15,000 Decrease in accounts receivable 30,000 Decrease in accounts payable 45,000 Net cash provided by operating activities is:

The information to prepare the statement of cash flows usually comes from each of the following except

Dense Company's income statement showed revenues of $275,000 and operating expenses of $135,000. Accounts receivable decreased by $40,000 and accounts payable increased by $35,000 during the year. Instructions Compute (a) cash receipts from customers and (b) cash payments for operating expenses using the direct method.

If a company reports a net loss, it

In Lynne Company, there was an increase in the land account during the year of $43,000. Analysis reveals that the change resulted from a cash sale of land at cost $115,000, and a cash purchase of land for $158,000. In the statement of cash flows, the change in the land account should be reported in the investment section:

When equipment is sold for cash, the amount received is reflected as a cash

The adjusted trial balance is the only item needed to prepare the Statement of Cash Flows.

The cash effects of selling goods and services appears in the ______________ activities section of a statement of cash flows.

A company had net income of $210,000. Depreciation expense is $27,000. During the year, Accounts Receivable and Inventory increased $17,000 and $42,000, respectively. Prepaid Expenses and Accounts Payable decreased $5,000 and $6,000, respectively. There was also a loss on the sale of equipment of $2,000. How much cash was provided by operating activities?

In Jude Company, land decreased $150,000 because of a cash sale for $150,000, the equipment account increased $60,000 as a result of a cash purchase, and Bonds Payable increased $120,000 from issuance for cash at face value. The net cash provided by investing activities is

Which of the following would not be an adjustment to net income using the indirect method?

In preparing the statement of cash flows, determining the net increase or decrease in cash requires the use of

The statement of cash flows is prepared from all of the following except

Financing activities include the obtaining of cash from issuing debt and repaying the amounts borrowed.

Which one of the following affects cash during a period?