Exam 14: Statement of Cash Flows

Clayborn Corporation's net cash provided by operating activities was $111,000; its net income was $101,000; its income taxes were $43,000; its capital expenditures were $90,000; and its cash dividends were $28,000. Required: Determine the company's free cash flow.

(Essay)

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Question 21

The collection of a loan made to a supplier would be treated as an investing activity on a statement of cash flows.

(True/False)

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Question 22

When computing the net cash provided by operating activities under the indirect method on the statement of cash flows,an increase in prepaid expenses would be added to net income.

(True/False)

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Question 23

Belk Corporation's balance sheet appears below: The net income for the year was $126.Cash dividends were $21.The company did not dispose of any property,plant,and equipment,issue any bonds payable,or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.

(Essay)

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Question 24

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)investing activities for the year was:

(Multiple Choice)

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Question 25

Free cash flow is net cash provided by operating activities less capital expenditures.

(True/False)

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Question 26

The most recent comparative balance sheet of Giacomelli Corporation appears below: The company uses the indirect method to construct the operating activities section of its statement of cash flows. -Which of the following is correct regarding the operating activities section of the statement of cash flows?

(Multiple Choice)

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Question 27

Paying taxes to governmental bodies is considered a cash outflow in the operating activities section on the statement of cash flows.

(True/False)

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Question 28

In a statement of cash flows,a change in an income taxes payable account would be recorded in the:

(Multiple Choice)

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Question 29

An increase in accounts receivable of $1,000 over the course of a year would be shown on the company's statement of cash flows prepared under the indirect method as:

(Multiple Choice)

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Question 30

Shoshoni Corporation prepares its statement of cash flows using the indirect method.Which of the following would be added to net income in the operating activities section of the statement?

(Short Answer)

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Question 31

Furis Corporation's cash and cash equivalents consist of cash and marketable securities.Last year the company's cash account decreased by $12,000 and its marketable securities account increased by $19,000.Net cash provided by (used in)operating activities was $18,000.Net cash provided by (used in)financing activities was $(12,000).Based on this information,the net cash provided by (used in)investing activities on the statement of cash flows was:

(Multiple Choice)

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Question 32

Walmouth Corporation's comparative balance sheet and income statement for last year appear below: The company declared and paid a cash dividend of $54,000 during the year. It did not purchase or dispose of any property, plant, and equipment. It did not issue any bonds 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:

(Multiple Choice)

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Question 33

Financial statements of Rukavina Corporation follow: Cash dividends were $8. 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:

(Multiple Choice)

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Question 34

The net cash provided by operating activities on the statement of cash flows does not include any dividends paid to the company's own shareholders.

(True/False)

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Question 35

Norbury Corporation's net income last year was $34,000.The company did not sell or retire any property,plant,and equipment last year.Changes in selected balance sheet accounts for the year appear below: Based solely on this information,the net cash provided by (used in)operating activities under the indirect method on the statement of cash flows would be:

(Multiple Choice)

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Question 36

Swinger Corporation's comparative balance sheet appears below: The company did not dispose of any property,plant,and equipment during the year.Its net income for the year was $10,000.The net cash provided by (used in)operating activities is:

(Multiple Choice)

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Question 37

Salsedo Corporation's balance sheet and income statement appear below: Cash dividends were $9. The company sold equipment for $15 that was originally purchased for $10 and that had accumulated depreciation of $5. It did not issue any bonds payable or repurchase any of its own common stock. -The net cash provided by (used in)operating activities for the year was:

(Multiple Choice)

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Question 38

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

(Multiple Choice)

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Question 39

Randal Corporation recorded the following activity for the year just ended: -The net cash provided by (used in)investing activities for the year was:

(Multiple Choice)

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Question 40

Showing 21 - 40 of 132

Exam 14: Statement of Cash Flows

Clayborn Corporation's net cash provided by operating activities was $111,000; its net income was $101,000; its income taxes were $43,000; its capital expenditures were $90,000; and its cash dividends were $28,000. Required: Determine the company's free cash flow.

The collection of a loan made to a supplier would be treated as an investing activity on a statement of cash flows.

When computing the net cash provided by operating activities under the indirect method on the statement of cash flows,an increase in prepaid expenses would be added to net income.

Free cash flow is net cash provided by operating activities less capital expenditures.

Paying taxes to governmental bodies is considered a cash outflow in the operating activities section on the statement of cash flows.

In a statement of cash flows,a change in an income taxes payable account would be recorded in the:

An increase in accounts receivable of $1,000 over the course of a year would be shown on the company's statement of cash flows prepared under the indirect method as:

Shoshoni Corporation prepares its statement of cash flows using the indirect method.Which of the following would be added to net income in the operating activities section of the statement?

The net cash provided by operating activities on the statement of cash flows does not include any dividends paid to the company's own shareholders.

Swinger Corporation's comparative balance sheet appears below: The company did not dispose of any property,plant,and equipment during the year.Its net income for the year was $10,000.The net cash provided by (used in)operating activities is:

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

Randal Corporation recorded the following activity for the year just ended: -The net cash provided by (used in)investing activities for the year was:

Managerial Accounting and Cost Concepts

Job-Order Costing: Calculating Unit Production Costs

Job-Order Costing: Cost Flows and External Reporting

Process Costing

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Super-Variable Costing

Master Budgeting

Flexible Budgets and Performance Analysis

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Financial Statement Analysis

Cost of Quality

Activity-Based Absorption Costing

The Predetermined Overhead Rate and Capacity

Job-Order Costing: a Microsoft Excel-Based Approach

Fifo Method

Service Department Allocations

Analyzing Mixed Costs

Time-Driven Activity-Based Costing: a Microsoft Excel-Based Approach

Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

Standard Cost Systems: a Financial Reporting Perspective Using Microsoft Excel

Transfer Pricing

Service Department Charges

Pricing Decisions

The Concept of Present Value

Income Taxes and the Present Value Method

the Direct Method of Determining the Net Cash Provided by Operating Activities

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