Exam 15: Statement of Cash Flows

The following transactions occurred last year at Jogger Corporation: Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be:

Dukas Corporation's net cash provided by operating activities was $218,000; its net income was $203,000; its capital expenditures were $146,000; and its cash dividends were $49,000.Required:Determine the company's free cash flow.

Majorn Auto Parts Store had net income of $84,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year: Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?

Paying interest to lenders is classified as an operating activity on the statement of cash flows.

Buying property, plant, or equipment would be reported as a cash outflow on the investing activities section of the statement of cash flows.

Alcoser Corporation's most recent balance sheet appears below: Net income for the year was $60. Cash dividends were $12. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) operating activities for the year was:

Vandy Corporation's balance sheet and income statement appear below: The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12. It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock.Required:Prepare a statement of cash flows for the year using the indirect method. Garrison 16e Rechecks 2017-12-19

In a statement of cash flows, issuing bonds payable affects the:

Hirshberg Corporation's comparative balance sheet appears below: The company's net income for the year was $11,000 and its cash dividends were $4,000. It did not sell or retire any property, plant, and equipment during the year.The company's net cash provided by (used in) investing activities is: Garrison 16e Rechecks 2017-09-22

The ending and beginning balances of Farmer Corporation's balance sheet accounts for the most recent year are listed below: The company's net income (loss) for the year was $0 and its cash dividends were $4,000. It did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year.Required:Compute the change in each balance sheet account in the below table. Indicate whether the change in each balance will be recorded in the operating, investing, or financing activities section of the statement of cash flows. For items recorded in the operating activities section, also indicate whether the change will be added to or subtracted from net income. For all other items, indicate whether the change will be added as a cash inflow or subtracted as a cash outflow. The first entry has been filled in as an example.

Klutz Dance Studio had net income of $169,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year: Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities?

Shimko Corporation's most recent comparative balance sheet and income statement appear below: The company paid a cash dividend of $19 and it did not dispose of any property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) investing activities for the year was:

Cridberg Corporation's selling and administrative expenses for last year totaled $260,000. During the year the company's prepaid expense account balance increased by $18,000 and accrued liabilities decreased by $12,000. Depreciation for the year was $25,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:

Tomlin Corporation prepares its statement of cash flows using the indirect method. Which of the following would be subtracted from net income in the operating activities section of the statement?

The ending balance of accounts receivable was $75,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $360,000. Sales reported on the income statement were $387,000. Based on this information, the beginning balance in accounts receivable was:

Marbry Corporation's balance sheet and income statement appear below: Cash dividends were $21. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year was:

Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below: The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) financing activities last year was:

Which of the following would be classified as a financing activity on the statement of cash flows?

Carr Corporation's comparative balance sheet and income statement for last year appear below: The company declared and paid $50,300 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required:Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.)

Carson Corporation's comparative balance sheet and income statement for last year appear below: Carson did not dispose of any property, plant, and equipment during the year. It constructs its statement of cash flows using the direct method.Required:Using the direct method, prepare in good form the operating activities section of the statement of cash flows.