Question 1

The statement of cash flows is an optional financial statement.

Accepted Answer

A) True 
 B)False

Question 2

The comparative balance sheet of Colson Company, for 2011 and the preceding year ended December 31, 2010 appears below in condensed form:
   The income statement for the current year is as follows:
   Additional data for the current year are as follows:
   Prepare a statement of cash flows, using the direct method of reporting cash flows from operating activities.

Accepted Answer

@#IMG-DLM&_TB2085_00

Question 3

Match between columns
                        Premises: Paid the weekly payroll
Paid an account payable
Issued bonds payable for cash
Declared and paid a cash dividend
Paid cash for a new piece of equipment
Purchased treasury stock for cash
Paid cash for stock in another company
Received interest on a long-term bond investment
Received cash for sales
Sold a long-term stock investment for cash at book value

Accepted Answer

The Answer of I + :Investing activity; cash inflow and is...

Question 4

Accounts receivable from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Accepted Answer

A)  $118,000. 
B)  $110,000. 
C)  $102,000. 
D)  $150,000. 
A)  $118,000. 
B)  $110,000. 
C)  $102,000. 
D)  $150,000.

Question 5

On the statement of cash flows prepared by the indirect method, the cash flows from operating activities section would include

Accepted Answer

A)  receipts from the sale of investments 
B)  amortization of premium on bonds payable 
C)  payments for cash dividends 
D)  receipts from the issuance of capital stock 
A)  receipts from the sale of investments 
B)  amortization of premium on bonds payable 
C)  payments for cash dividends 
D)  receipts from the issuance of capital stock

The statement of cash flows is an optional financial statement.

On the statement of cash flows prepared by the indirect method, the cash flows from operating activities section would include

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Completing the Accounting Cycle

Accounting Systems

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, Internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Accounting for Partnerships and Limited Liability Companies

Corporations: Organization, Stock Transactions, and Dividends

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Financial Statement Analysis

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Exam 16: Statement of Cash Flows

The statement of cash flows is an optional financial statement.

On the statement of cash flows prepared by the indirect method, the cash flows from operating activities section would include

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Completing the Accounting Cycle

Accounting Systems

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, Internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Accounting for Partnerships and Limited Liability Companies

Corporations: Organization, Stock Transactions, and Dividends

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Financial Statement Analysis

Filters