Exam 19: Company Performance: Cash Flows

On a statement of cash flows using the indirect format,amortization of the discount on a note payable is:

Receipt of dividends from an investment in another company would be reported in the following section of the statement of cash flows:

In 2010 Penoke Corporation retired $1,000,000 of its long-term bonds early and as a result of the transaction generated a gain of $100,000.How much cash did Penoke pay to retire the bonds early and in what section would the cash payment be reported on the statement of cash flows?

Cash flows for investing activities include payments

Cash received on interest earned on an investment bonds is reported included in the

Using the indirect method (statement of cash flows),a loss would:

Since firms must publish an income statement,why is a statement of cash flows also necessary?

Interest expense for the period was $7,250 less than cash payments for interest.This difference is most likely due to a(n):

The beginning balance in accounts receivable is $ 8,000.Sales during the period equaled $ 15,000.What was the cash received from customers?

The reporting format for the statement of cash flows which shows the actual cash inflows and outflows of operating activities is the:

The retained earnings account began the year with a balance of $639,600,was reduced for dividends declared,and increased for net income of $312,000.If the cash paid for dividends was $129,500,and the dividends payable account decreased $45,000,the ending balance in the retained earnings account should be:

On a statement of cash flows using the indirect format,the loss on the sale of a building is:

Cash payments for dividends would be reported in the following section of the statement of cash flows:

Collections of cash from the sale of land would be reported in the following section of the statement of cash flows:

What are the four primary purposes of the statement of cash flows?

All of the following are primary purposes of the statement of cash flows except:

Salaries payable decreased from 2009 to 2010.Using the indirect method (statement of cash flows),the decrease should be:

Create the operating section of the statement of cash flows (indirect method). Moving Inc. Income Statement For the Year Ending Dec. 31,2010 Sales 900,000 Cost of Goods Sold Gross Margin 500,000 All Other Items: Salaries Expense (100,000) Depreciation Expense (200,000) Loss on Sale of Equipment Net Income Moving Inc. Balarce Sheet - Incomplete Staternent Dec. 31, 2010 ***** Other Information: Dividends Paid = $ 50,000

Given the following selected information,prepare a schedule showing net cash flows from operating activities for the year ended May 31,2010 using the indirect format: May 31,2010 May 31,2009 \cline 2-3 Accounts Receivable \ 53,000 \ 69,000 Inventory 171,000 186,000 Prepaid Insurance 12,000 8,000 Accounts Payable 47,000 55,000 Wages Payable 28,000 37,000 Unearned Revenue 33,000 26,000 Sales 568,000 Cost of Goods Sold 385,000 Insurance Expense 27,000 Wages Expense 94,000 Depreciation Expense 31,000 Amortization Expense 18,000 Interest Expense 29,000 Loss on Sale of Equipment 6,000 Dividend Revenue 17,000 Gain on Sale of Investment 42,000