A corporation reported the following information in its income statement: \[\begin{array} { | l | l | } \hline \text { Sales revenue (none on credit) } & \$ 60,000 \\ \hline \text { Cost of goods sold (paid in cash) } & 40,000 \\ \hline \text { Gross margin on sales } & 20,000 \\ \hline \text { Depreciation expense } & ( 2,000 ) \\ \hline \text { Amortiz ation expense } & ( 1,000 ) \\ \hline \text { Wage expense (paid in cash) } & ( 2,500 ) \\ \hline \text { Income betore taxes } & 14,500 \\ \hline \text { Income taxes } ( 20 \% ) \text { (paid in cash) } & ( 2,900 ) \\ \hline \text { Net income } & \$ 11,600 \\ \hline \end{array}\] The corporation should report the following amount on its Statement of Cash Flows for net cash from operating activities:

A) $11,600. B) $13,600. C) $14,600. D) $17,100. A) $11,600. B) $13,600. C) $14,600. D) $17,100.

The following information was provided by the records of RST for the annual reporting period ended December 31, 2011: \[\begin{array} { | l | l | } \hline \text { Cost of goods sold as reported on the income statement) } & \$ 170 \\ \hline \text { Depreciation expense } & \$ 10 \\ \hline \text { Merchandise inventory increase } & \$ 2 \\ \hline \text { Goodwill amortized } & \$ 4 \\ \hline \text { Accounts payable decrease } & \$ 18 \\ \hline \end{array}\] The cash paid to suppliers was:

A) $172. B) $188. C) $190. D) $200. A) $172. B) $188. C) $190. D) $200.

The following was provided by the records of RST for the current reporting year: \[\begin{array} { | l | l | } \hline \text { Net loss (as reported on the income statement) } & \$ 40,000 \\ \hline \text { Decrease in inventory } & 18,000 \\ \hline \text { Increase in accounts receiable } & 3,000 \\ \hline \text { Depreciation expense } & 27,000 \\ \hline \text { Increase in accounts payable } & 9,000 \\ \hline \text { Cash dividend declared and paid } & 2,000 \\ \hline \text { Decrease in income tax payable } & 4,000 \\ \hline \end{array}\] The cash flow from operating activities was:

A) $40,000 outflow. B) $7,000 inflow. C) $5,000 inflow. D) $4,000 inflow. A) $40,000 outflow. B) $7,000 inflow. C) $5,000 inflow. D) $4,000 inflow.

Exam 5: The Statement of Cash Flows

DBB reported cost of goods sold for 2013 of $600,000; merchandise inventory decreased by $20,000 during the year, and accounts payable decreased by $30,000 during the year. What would be DBB's cash paid to suppliers for 2013?

(Multiple Choice)

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Question 161

The Statement of Cash Flows does not report the effects of:

(Multiple Choice)

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Question 162

RJB reported sales of $200,000 and an increase in accounts receivable of $30,000 during 2011. Under the direct method, calculate what would be RJB's cash collected from customers during 2011?

(Essay)

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Question 163

Cash flows from investing activities would include all of these except:

(Multiple Choice)

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Question 164

A firm's accumulated depreciation account increased $30,000 for the year, and total plant assets at cost increased $200,000. During the year, the firm purchased $350,000 of new equipment for cash, and sold equipment for $50,000 cash. This equipment had been depreciated $30,000 at the time of sale. Present the complete disclosure of these events in an indirect format Statement of Cash Flows.

(Essay)

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Question 165

If cash collected from customers for 2013 is $780,000 and accounts receivable increased by $20,000 during the year, what were sales for 2013?

(Multiple Choice)

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Question 166

An asset (land) was purchased and payment in full was made by issuing the company's common shares. No cash was paid. Therefore, this transaction should be reported on the Statement of Cash Flows:

(Multiple Choice)

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Question 167

Which of the following items involving current trade accounts receivable is most likely to appear in a Statement of Cash Flows?

(Multiple Choice)

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Question 168

A corporation reported the following information in its income statement: Sales revenue (none on credit) \ 60,000 Cost of goods sold (paid in cash) 40,000 Gross margin on sales 20,000 Depreciation expense (2,000) Amortiz ation expense (1,000) Wage expense (paid in cash) (2,500) Income betore taxes 14,500 Income taxes (20\%) (paid in cash) (2,900) Net income \ 11,600 The corporation should report the following amount on its Statement of Cash Flows for net cash from operating activities:

(Multiple Choice)

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Question 169

During 2016, ABC Inc. Accounts Payable balance decreased by $20,000. The company purchased $100,000 of inventory on account. The company made another inventory purchases of $100,000 (on account) during the year, $10,000 of which was returned to its suppliers for credit. The company's cash payments to its inventory suppliers during 2016 was:

(Multiple Choice)

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Question 170

DBB reported cost of goods sold for 2013 of $600,000; merchandise inventory increased by $20,000 during the year, and accounts payable increased by $30,000 during the year. What would be DBB's cash paid to suppliers for 2013?

(Multiple Choice)

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Question 171

A firm's accumulated depreciation account increased $30,000 for the year, and total plant assets at cost increased $200,000. During the year, the firm purchased $350,000 of new equipment for cash, and sold equipment for $50,000 cash. This equipment had been depreciated $30,000 at the time of sale. What is the complete disclosure of these events in the indirect method Statement of Cash Flows?

(Multiple Choice)

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Question 172

For which of the following accounts would change during the year and that account would not be found in the reconciliation of net income and net operating cash flow?

(Multiple Choice)

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Question 173

The following information was provided by the records of RST for the annual reporting period ended December 31, 2011: Cost of goods sold as reported on the income statement) \ 170 Depreciation expense \ 10 Merchandise inventory increase \ 2 Goodwill amortized \ 4 Accounts payable decrease \ 18 The cash paid to suppliers was:

(Multiple Choice)

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Question 174

The following was provided by the records of RST for the current reporting year: Net loss (as reported on the income statement) \ 40,000 Decrease in inventory 18,000 Increase in accounts receiable 3,000 Depreciation expense 27,000 Increase in accounts payable 9,000 Cash dividend declared and paid 2,000 Decrease in income tax payable 4,000 The cash flow from operating activities was:

(Multiple Choice)

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Question 175

The adjusted trial balances for a firm, at December 31, 2011 and 2010 are as follows: Additional information: No plant assets were sold in 2011. The firm allocates depreciation expense to other operating expense accounts. $The adjusted trial balances for a firm, at December 31, 2011 and 2010 are as follows: Additional information: No plant assets were sold in 2011. The firm allocates depreciation expense to other operating expense accounts. \begin{array}{|l|r|r|} \hline \text { Interest expense } & 4,300 & 2,600 \\ \hline \text { Income tax expense } & \underline{20,400} & {61,200} \\ \hline & \$ 756,700 & \$ 976,100 \\ \hline \end{array} Required: Determine the firm's 2011 net cash flow from operating activities using the indirect method.$ Interest expense 4,300 2,600 Income tax expense 61,200 \ 756,700 \ 976,100 $The adjusted trial balances for a firm, at December 31, 2011 and 2010 are as follows: Additional information: No plant assets were sold in 2011. The firm allocates depreciation expense to other operating expense accounts. \begin{array}{|l|r|r|} \hline \text { Interest expense } & 4,300 & 2,600 \\ \hline \text { Income tax expense } & \underline{20,400} & {61,200} \\ \hline & \$ 756,700 & \$ 976,100 \\ \hline \end{array} Required: Determine the firm's 2011 net cash flow from operating activities using the indirect method.$ Required: Determine the firm's 2011 net cash flow from operating activities using the indirect method.

(Essay)

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Question 176

Which of the following would cause an outflow of cash?

(Multiple Choice)

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Question 177

Which one of the following would not be a cash outflow from financing activities for ABC Company?

(Multiple Choice)

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Question 178

Showing 161 - 178 of 178

DBB reported cost of goods sold for 2013 of $600,000; merchandise inventory decreased by $20,000 during the year, and accounts payable decreased by $30,000 during the year. What would be DBB's cash paid to suppliers for 2013?

The Statement of Cash Flows does not report the effects of:

RJB reported sales of $200,000 and an increase in accounts receivable of $30,000 during 2011. Under the direct method, calculate what would be RJB's cash collected from customers during 2011?

Cash flows from investing activities would include all of these except:

If cash collected from customers for 2013 is $780,000 and accounts receivable increased by $20,000 during the year, what were sales for 2013?

An asset (land) was purchased and payment in full was made by issuing the company's common shares. No cash was paid. Therefore, this transaction should be reported on the Statement of Cash Flows:

Which of the following items involving current trade accounts receivable is most likely to appear in a Statement of Cash Flows?

DBB reported cost of goods sold for 2013 of $600,000; merchandise inventory increased by $20,000 during the year, and accounts payable increased by $30,000 during the year. What would be DBB's cash paid to suppliers for 2013?

For which of the following accounts would change during the year and that account would not be found in the reconciliation of net income and net operating cash flow?

Which of the following would cause an outflow of cash?

Which one of the following would not be a cash outflow from financing activities for ABC Company?

The Framework for Financial Reporting

Accounting Judgements

Statements of Income and Comprehensive Income

Statements of Financial Position and Changes in Equity; Disclosure Notes

Revenue Recognition

Financial Assets: Cash and Receivables

Cost-Based Inventories and Cost of Sales

Long-Lived Assets

Depreciation, Amortization, and Impairment

Financial Instruments: Investments in Bonds and Equity Securities

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