Exam 15: Statement of Cash Flows

The following events occurred last year at Taylor Company: Based on the above information, the net cash flows from investing activities for the year on the statement of cash flows would be

Issuing shares of common stock, paying dividends and paying off debt are all examples of _______________.

The following transactions occurred last year at Jackson Inc. Based solely on the above information, the net cash flows from financing activities for the year on the statement of cash flows would be

Baskin Company's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below: The company declared and paid cash dividends of $36,000 last year. Required:

In calculating cash flows from operating activities using the indirect method, a loss on the sale of equipment will appear as a(n)

In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is

Total operating expenses on Tucker Company's income statement for last year totaled $215,000. During the year the accounts payable stayed the same, the accrued liabilities stayed the same, and prepaid expenses stayed the same. Depreciation expense for the year was $11,000. Based on this information, operating expenses adjusted to cash basis under the direct method on the statement of cash flows would be

In the ________________, each line on the income statement is adjusted to produce a cash flow income statement.

Cash received on the sale of equipment would be considered a financing activity on a statement of cash flows.

The following transactions occurred last year at Dempsey Inc. Based solely on the above information, the net cash flows from financing activities for the year on the statement of cash flows would be

Long Company's net income last year was $43,000 and cash dividends declared and paid to the company stockholders was $28,000. Changes in selected balance sheet accounts for the year appear below: Based solely on this information, the net cash flows from operating activities under the indirect method on the statement of cash flows would be

The comparative balance sheets for Bessler Company appear below: Additional information: Required: Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method.

The decision whether to use the direct or indirect method on the statement of cash flows is relevant with respect to

Noncash investing and financing transactions, such as the exchange of common stock to purchase assets, represent significant investing and financing activities and are disclosed in a supplementary schedule that is attached to the statement of cash flows.

Assuming a statement of cash flows is prepared, indicate the reporting of the transactions and events listed below by major categories on the statement. Use the following code letters to indicate the appropriate category under which the item would appear on the statement of cash flows.

Some individuals prefer to show operating cash flows as the difference between ___________ and ____________.

For each of the following items, indicate by using the appropriate code letter, how the item should be reported in the statement of cash flows, using the indirect method. -Acquisition of land in exchange for common stock.

For each of the following items, indicate by using the appropriate code letter, how the item should be reported in the statement of cash flows, using the indirect method. -Declaration and payment of a cash dividend.

The net income reported on the income statement for the current year was $100,000. Depreciation recorded on plant assets was $25,000. Accounts receivable and inventories decreased by $5,000 and $15,000, respectively. Prepaid expenses and accounts payable increased by $500 and $4,000, respectively. Using the indirect method, how much would be reported for net cash flows from operating activities in the statement of cash flows?

Which of the following transactions does not affect cash during a period?