The records of BCD provided the following information for the year ended December 31,2011: (1) $\begin{array}{|l|r|r|} \hline\text { Balance sheet: } & \mathbf{2 0 1 1} & \mathbf{2 0 1 0} \\ \hline \text { Cash } & \$ 18,000 & \$ 20,000 \\ \hline \text { Accounts receivable (net) } & 26,000 & 22,000 \\\hline \text { Inventory } & 30,000 & 27,000 \\ \hline \text { Capital assets (net) } & 75,000 & 76,000 \\ \hline \text { Payable (short term) } & 41,000 & 40,000 \\ \hline \text { Bonds payable } & 60,000 & 60,000 \\ \hline\text { Common stock }&30,000&30,000\\ \hline\text { Retained earnings }&18,000&?\\ \hline \end{array}$ (2) Cash dividends of $5,000 were declared in 2010 and paid in 2011,and cash dividends of $2,000 were declared and paid in 2011. (3) Net loss in 2011,$1,000. (4) Depreciation expense for 2011,$5,000. Calculate the amount of net cash from operating activities during 2011.

The answer of The records of BCD provided the following...

Choose the combination that best reflects the appropriate classification of cash paid for operating,investing,and financing activities. \[\begin{array}{l} \text { Cash paid for: }\\ \begin{array} { l l l l } & \text { Operating } & \text { Investing } & \text { Financing } \\ \text { A) } & \text { Cash to suppliers } & \text { Interest } & \text { Dividends } \\ \text { B) } & \text { Interest } & \text { Cash to suppliers } & \text { Income taxes } \\ \text { C) } & \text { Income taxes } & \text { Investment securities } & \text { Dividends } \\ \text { D) } & \text { Dividends } & \text { Income taxes } & \text { Cash to suppliers } \end{array} \end{array}\]

A) Choice A B) Choice B C) Choice C D) Choice D A) Choice A B) Choice B C) Choice C D) Choice D

The following information was provided by the records of RST for the annual reporting period ended December 31,2011: \[\begin{array} { l | l | } \hline \text { Cost of goods sold (as reported on the income statement) } & \$ 170 \\ \hline \text { Depreciation expense } & \$ 10 \\ \hline \text { Merchandise inventory increase } & \$ 2 \\ \hline \text { Goodwill amortized } & \$ 4 \\ \hline \text { Accounts payable decrease } & \$ 18 \\ \hline \end{array}\] The cash paid to suppliers was:

A) $172 B) $188 C) $190 D) $200 A) $172 B) $188 C) $190 D) $200

Exam 5: The Statement of Cash Flows

MNO reported net income of $42,000 for the reporting period ended December 3,2011.MNO's records provided the following information: The net cash flow from operating activities was:

(Multiple Choice)

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Question 81

Which of the following could be a cash equivalent for purposes of reporting in the Statement of Cash Flows?

(Multiple Choice)

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Question 82

The purchase of debt securities to be held to maturity would be classified into which of the following categories for purposes of disclosure in the Statement of Cash Flows?

(Multiple Choice)

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Question 83

Complete the following Statement of Cash Flows schedule to determine cash inflow (outflow) from operations: Statement of Cash Flows Operating Activities: Net income......................$100,000 Adjustments to convert net income to cash from operating activities: (a) Inventory increase,$3,000............ (b) Accounts payable decrease,$7,000........ (c) Depreciation expense,$12,000.......... (d) Gain on sale of land,$4,000.......... (e) Accounts receivable decrease,$5,000...... (f) Amortization of discount on bonds payable,$1,000 (g) Loss on sale of investments in SAS,$2,000.... (h) Correction of prior years' errors,loss,$11,000...... Cash inflow (outflow) from operating activities...

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Question 84

As per ASPE,Dividends received from trading securities would be classified into which of the following categories for purposes of disclosure in the Statement of Cash Flows?

(Multiple Choice)

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Question 85

In a Statement of Cash Flows,the amortization of goodwill for a company with substantial operating profits should be presented as a(n):

(Multiple Choice)

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Question 86

The records of BCD provided the following information for the year ended December 31,2011: (1) Balance sheet: Cash \ 18,000 \ 20,000 Accounts receivable (net) 26,000 22,000 Inventory 30,000 27,000 Capital assets (net) 75,000 76,000 Payable (short term) 41,000 40,000 Bonds payable 60,000 60,000 Common stock 30,000 30,000 Retained earnings 18,000 ? (2) Cash dividends of $5,000 were declared in 2010 and paid in 2011,and cash dividends of $2,000 were declared and paid in 2011. (3) Net loss in 2011,$1,000. (4) Depreciation expense for 2011,$5,000. Calculate the amount of net cash from operating activities during 2011.

(Essay)

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Question 87

Which of the following is not an adjustment to reconcile net income to cash from operating activities?

(Multiple Choice)

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Question 88

The main purpose of the Statement of Cash Flows is:

(Multiple Choice)

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Question 89

Choose the combination that best reflects the appropriate classification of cash paid for operating,investing,and financing activities. Cash paid for: Operating Investing Financing A) Cash to suppliers Interest Dividends B) Interest Cash to suppliers Income taxes C) Income taxes Investment securities Dividends D) Dividends Income taxes Cash to suppliers

(Multiple Choice)

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Question 90

The following information was provided by the records of RST for the annual reporting period ended December 31,2011: Cost of goods sold (as reported on the income statement) \ 170 Depreciation expense \ 10 Merchandise inventory increase \ 2 Goodwill amortized \ 4 Accounts payable decrease \ 18 The cash paid to suppliers was:

(Multiple Choice)

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Question 91

Depreciation expense represents a "flow" of cash during the current period.

(True/False)

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Question 92

A Statement of Cash Flows would not report the effects of:

(Multiple Choice)

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Question 93

Which of the following independent transactions would cause net income to be more than cash from operating activities?

(Multiple Choice)

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Question 94

The sale of $3,000 worth of cash equivalents costing $2,500 has what effect on the indirect method Statement of Cash Flows.

(Multiple Choice)

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Question 95

Cash from customers equals sales plus the increase in accounts receivable for the year.

(True/False)

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Question 96

A company started business on January 1,year 1.At the end of year 1,the financial statements showed the following amounts: Income on the accrual basis and net cash inflow from operating activities were:

(Multiple Choice)

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Question 97

Which of the following would not be shown in one of the three activity sections of the Statement of Cash Flows prepared using the indirect format?

(Multiple Choice)

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Question 98

A non-cash exchange is a transaction that involves an exchange of resources without any cash being directly paid or received.

(True/False)

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Question 99

A corporation started operations on January 1; the reporting period ends December 31.At the end of the year,the company's records reflected the following amounts after all adjusting entries: Sales revenue,$700,000; Cost of goods sold,$400,000; Expenses (total),$200,000; Accrued wages payable,$5,000; Accounts payable,$10,000 and Accounts receivable,$25,000. (a) Net income,accrual basis,was $________. (b) Net cash inflow from operating activities was $.

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Question 100

Showing 81 - 100 of 177

MNO reported net income of $42,000 for the reporting period ended December 3,2011.MNO's records provided the following information: The net cash flow from operating activities was:

Which of the following could be a cash equivalent for purposes of reporting in the Statement of Cash Flows?

The purchase of debt securities to be held to maturity would be classified into which of the following categories for purposes of disclosure in the Statement of Cash Flows?

As per ASPE,Dividends received from trading securities would be classified into which of the following categories for purposes of disclosure in the Statement of Cash Flows?

In a Statement of Cash Flows,the amortization of goodwill for a company with substantial operating profits should be presented as a(n):

Which of the following is not an adjustment to reconcile net income to cash from operating activities?

The main purpose of the Statement of Cash Flows is:

Depreciation expense represents a "flow" of cash during the current period.

A Statement of Cash Flows would not report the effects of:

Which of the following independent transactions would cause net income to be more than cash from operating activities?

The sale of $3,000 worth of cash equivalents costing $2,500 has what effect on the indirect method Statement of Cash Flows.

Cash from customers equals sales plus the increase in accounts receivable for the year.

A company started business on January 1,year 1.At the end of year 1,the financial statements showed the following amounts: Income on the accrual basis and net cash inflow from operating activities were:

Which of the following would not be shown in one of the three activity sections of the Statement of Cash Flows prepared using the indirect format?

A non-cash exchange is a transaction that involves an exchange of resources without any cash being directly paid or received.

The Framework for Financial Reporting

Accounting Judgements

Statements of Income and Comprehensive Income

Statements of Financial Position and Changes in Equity; Disclosure Notes

Financial Assets: Cash and Receivables

Cost-Based Inventories and Cost of Sales

Property,Plant,and Equipment; Intangibles; and Goodwill

Depreciation,Amortization,and Impairment

Financial Instruments: Investments in Debt and Equity Securities

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