Exam 15: Statement of Cash Flows

Use the following major cash flow activities to classify the activities listed below: -Payment of cash dividends

Use the following major cash flow activities to classify the activities listed below: -Issued Common Stock for cash

Which of the following would be subtracted from net income using the indirect method?

The data given below are from the accounting records of Kain Company: Based on this information, the net cash flows from operating activities on the statement of cash flows using the indirect method would be

Land costing $78,000 was sold for $93,000 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?

Dolan Company's income statement showed revenues of $250,000 and operating expenses of $160,000. Accounts receivable decreased by $60,000 and accounts payable increased by $40,000 during the year. Required: Compute (A) cash receipts from customers and (B) cash payments for operating expenses using the direct method.

A comparative balance sheet for the Bright Corporation is presented below: Additional information: Required: Prepare a statement of cash flows for the year ended 2014 using the indirect method.

Use the following major cash flow activities to classify the activities listed below: -Paid off long-term debt

In preparing the statement of cash flows, determining the net increase or decrease to cash requires the use of

Cash flows from acquiring and selling equipment are classified as

Which balance sheet accounts are affected by financing activities?

The indirect method of reporting the cash flows from operating activities on the statement of cash flows is the method most widely used in practice.

If an asset is sold at a gain, why is the gain deducted from net income when computing the net cash flows from operating activities under the indirect method?

Cash flows from operating activities can be calculated using the indirect or direct method. Briefly describe how the two methods differ yet arrive at the same information about the net cash flows from operating activities.

The general ledger of Lopez Company provides the following information: Net sales for the year were $2,100,000 and cost of goods sold were $1,500,000. Required: Compute the following:

Last year Kinslow Company's cash account increased by $16,000. Net cash flows from investing activities were ($39,000). Net cash flows from financing activities were $17,000. On the statement of cash flows, the net cash flows from operating activities were

________________ are the ongoing, day-to-day, revenue-generating activities of an organization.

Cash flows from operating activities, as reported on the statement of cash flows, would include

If a gain of $25,000 is incurred in selling (for cash) office equipment having a book value of $100,000, the total amount reported in the cash flows from the investing activities section of the statement of cash flows is

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. -Decrease in accounts receivable during a period.