Match between columns Premises: collected accounts receivable from customers issued bonds payable purchased equipment for cash purchased land in exchange for a note payable pay interest expense declared dividend paid advertising expenses collected interest and dividends from actively traded investments repaid a long-term note payable gain on sale of land

The Answer of operating activity. and Investing activity. and financing is...

Match between columns Premises: increase in Accounts Receivable increase in Prepaid Expense increase in Inventory increase in Accounts Payable decrease in Supplies increase in Accumulated Depreciation

The Answer of source of cash and a use of is...

Exam 24: The Statement of Cash Flows

A list of sources and uses of cash are given below. Select on the line provided whether each is an operating, investing, or financing activity. -pay interest expense

Free

(Multiple Choice)

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(85)

Question 1

Correct Answer:

Verified

A corporation received $89,000 in cash from the sale of common stock and used the proceeds to pay $72,000 in bonds payable. As a result, the statement of cash flows would report:

Free

(Multiple Choice)

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(88)

Question 2

Correct Answer:

Verified

Chattel Company sold equipment that originally cost $46,000 and accumulated depreciation in the amount of $38,200 for $8,000 cash. -What amount is reported in the Cash Flows from Operating Activities section of the Statement of Cash Flows for the sale of this equipment?

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A gain on sale of $1,000 was recorded. How is the Cash Flows from Operating Activities affected?

(Multiple Choice)

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Question 4

Cash and cash equivalents, as used on the statement of cash flows, consist of:

(Multiple Choice)

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Question 5

A list of sources and uses of cash are given below. Indicate on the line provided whether each is an:

collected accounts receivable from customers

operating activity.

issued bonds payable

Investing activity.

purchased equipment for cash

financing activity.

Correct Answer:

Verified

collected accounts receivable from customers

issued bonds payable

purchased equipment for cash

purchased land in exchange for a note payable

(Matching)

4.8/5

(82)

Question 6

When the net income is adjusted to arrive at the net cash provided by operating activities, the amount of the bond premium amortized is added to the net income.

(True/False)

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Question 7

For each of the following operating activities, indicate whether it is a under the indirect method:

increase in Accounts Receivable

source of cash

increase in Prepaid Expense

a use of cash

increase in Inventory

neither

Correct Answer:

Verified

increase in Accounts Receivable

increase in Prepaid Expense

increase in Inventory

(Matching)

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(81)

Question 8

A list of sources and uses of cash are given below. Select on the line provided whether each is an operating, investing, or financing activity. -sale of merchandise

(Multiple Choice)

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Question 9

A corporation received $45,000 in cash from the sale of a building and paid $96,000 in cash for the purchase of new machinery. As a result, the statement of cash flows would report:

(Multiple Choice)

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Question 10

The purpose of the--------- is to report the cash balance at the beginning and end of the fiscal period and to show the sources and uses of cash during the period.

(Short Answer)

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Question 11

If the indirect method of preparing the statement of cash flows is used, a note disclosing the amount of interest and income taxes paid during the period must accompany the statement.

(True/False)

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(71)

Question 12

A list of sources and uses of cash are given below. Indicate on the line provided whether each is an (O)operating, (I)investing, (F)financing, or a significant (N)noncash financing and investing activity. -issued bonds payable

(Multiple Choice)

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(84)

Question 13

When using the indirect method of preparing the statement of cash flows, the payment of interest is considered to be:

(Multiple Choice)

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Question 14

When using the Direct Method of preparing the Statement of Cash Flows, interest expense is treated as an outflow of cash in the----------section.

(Short Answer)

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Question 15

The Financial Accounting Standards Board prefers the indirect method of preparing the statement of cash flows.

(True/False)

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Question 16

Use the following information for the questions. The Dolmen Company Income Statement For the Year Ended June 30, 2019 The Dolmen Company Comparative Balance Sheet June 30, 2019 Liabilities and Stockholders' Equity Additional information: Equipment costing $100,000 was sold for $70,000. Accumulated depreciation on this equipment was $20,000. Dividends of $38,000 were declared and paid in 2019. Bonds were issued at face value of $300,000. Common stock of $55,000 was issued to acquire land. Investments (stock in IBM) were purchased for $275,000. -Using the information provided, prepare the cash flows from operating activities for The Dolmen Company.

(Essay)

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Question 17

For each of the following operating activities, select whether it is a source of cash, a use of cash, neither under the indirect method. -loss on early redemption of bonds

(Multiple Choice)

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Question 18

The amortization of the premium on bonds payable is reported in the----------- section of the Statement of Cash Flows.

(Short Answer)

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(77)

Question 19

For each of the following operating activities, select whether it is a source of cash, a use of cash, neither under the indirect method. -depreciation expense

(Multiple Choice)

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(65)

Question 20

Showing 1 - 20 of 154

Exam 24: The Statement of Cash Flows

A list of sources and uses of cash are given below. Select on the line provided whether each is an operating, investing, or financing activity. -pay interest expense

A corporation received $89,000 in cash from the sale of common stock and used the proceeds to pay $72,000 in bonds payable. As a result, the statement of cash flows would report:

Chattel Company sold equipment that originally cost $46,000 and accumulated depreciation in the amount of $38,200 for $8,000 cash. -What amount is reported in the Cash Flows from Operating Activities section of the Statement of Cash Flows for the sale of this equipment?

Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A gain on sale of $1,000 was recorded. How is the Cash Flows from Operating Activities affected?

Cash and cash equivalents, as used on the statement of cash flows, consist of:

When the net income is adjusted to arrive at the net cash provided by operating activities, the amount of the bond premium amortized is added to the net income.

A list of sources and uses of cash are given below. Select on the line provided whether each is an operating, investing, or financing activity. -sale of merchandise

A corporation received $45,000 in cash from the sale of a building and paid $96,000 in cash for the purchase of new machinery. As a result, the statement of cash flows would report:

The purpose of the--------- is to report the cash balance at the beginning and end of the fiscal period and to show the sources and uses of cash during the period.

If the indirect method of preparing the statement of cash flows is used, a note disclosing the amount of interest and income taxes paid during the period must accompany the statement.

A list of sources and uses of cash are given below. Indicate on the line provided whether each is an (O)operating, (I)investing, (F)financing, or a significant (N)noncash financing and investing activity. -issued bonds payable

When using the indirect method of preparing the statement of cash flows, the payment of interest is considered to be:

When using the Direct Method of preparing the Statement of Cash Flows, interest expense is treated as an outflow of cash in the----------section.

The Financial Accounting Standards Board prefers the indirect method of preparing the statement of cash flows.

For each of the following operating activities, select whether it is a source of cash, a use of cash, neither under the indirect method. -loss on early redemption of bonds

The amortization of the premium on bonds payable is reported in the----------- section of the Statement of Cash Flows.

For each of the following operating activities, select whether it is a source of cash, a use of cash, neither under the indirect method. -depreciation expense

Accounting: The Language of Business

Analyzing Business Transactions

Analyzing Business Transactions Using T Accounts

The General Journal and the General Ledger

Adjustments and the Worksheet

Closing Entries and Teh Postclosing Trial Balance

Accounting for Sales and Accounts Receivable

Accounting for Purchases and Accounts Payable

Cash Receipts, Cash Payments, and Banking Procedures

Payroll Computations, Records, and Payment

Payroll Taxes, Deposits, and Reports

Accruals, Deferrals, and the Worksheet

Financial Statements and Closing Procedures

Accounting Principles and Reporting Standards

Accounts Receivable and Uncollectible Accounts

Notes Payable and Notes Receivable

Merchandise Inventory

Property, Plant, and Equipment

Accounting for Partnerships

Corporations: Formation and Capital Stock Transactions

Corporate Earnings and Capital Transactions

Long-Term Bonds

Financial Statement Analysis

Departmentalized Profit and Cost Centers

Accounting for Manufacturing Activities

Job Order Cost Accounting

Process Cost Accounting

Controlling Manufacturing Costs: Standard Costs

Cost-Revenue Analysis for Decision Making

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