Exam 13: Statement of Cash Flows

Lucas Company recorded the following events last year: On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. -Based solely on the information above,the net cash provided by (used in)financing activities on the statement of cash flows would be:

The most recent balance sheet and income statement of Swanigan Corporation appear below: Cash dividends were $18.The company did not sell or retire any property,plant,and equipment during the year.The net cash provided by (used in)operating activities for the year was:

Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the year appear below: The company paid a cash dividend and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. -The net cash provided by (used in)financing activities last year was:

The investing and financing sections of the statement of cash flows record net cash flows rather than gross cash flows.

The following events occurred last year at Dewhurst Company: Based on the above information,the cash provided (used)by investing activities for the year on the statement of cash flows would net to:

The most recent comparative balance sheet of Broekemeier Corporation appears below: The company uses the indirect method to construct the operating activities section of its statements of cash flows. -Which of the following is correct regarding the operating activities section of the statement of cash flows?

The most recent balance sheet and income statement of Heldt Corporation appear below: The company paid a cash dividend and it did not dispose of any property, plant, and equipment. The company did not purchase any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. -The net cash provided by (used in)investing activities for the year was:

The most recent balance sheet and income statement of Heldt Corporation appear below: The company paid a cash dividend and it did not dispose of any property, plant, and equipment. The company did not purchase any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. -The net cash provided by (used in)financing activities for the year was:

Free cash flow increases when a company issues common stock for cash.

Cannedy Corporation's most recent balance sheet appears below: The company's net income for the year was $74 and it did not sell or retire any property,plant,and equipment during the year.Cash dividends were $21.The net cash provided by (used in)investing activities for the year was:

Hannah Corporation's comparative balance sheet appears below: The company's net income (loss)for the year was $0 and its cash dividends were $2,000.It did not dispose of any property,plant,and equipment,retire any bonds payable,or repurchase any of its own common stock during the year. Required: Compute the change in each balance sheet account denoted with an asterisk (*).Indicate whether the change in each balance will be recorded in the operating,investing,or financing activities section of the statement of cash flows.For items recorded in the operating activities section,also indicate whether the change will be added to or subtracted from net income.For all other items,indicate whether the change will be added as a cash inflow or subtracted as a cash outflow.

Gasco Corporation's balance sheet and income statement appear below: Cash dividends were $54. The company sold equipment for $14 that was originally purchased for $8 and that had accumulated depreciation of $1. It did not issue any bonds payable or repurchase any of its own common stock. -The net cash provided by (used in)investing activities for the year was:

Bonner Corporation's balance sheet and income statement appear below: The company sold equipment for $10 that was originally purchased for $4 and that had accumulated depreciation of $4.It paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock. Required: Prepare a statement of cash flows for the year using the indirect method.

Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the year appear below: The company paid a cash dividend and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. -The net cash provided by (used in)investing activities last year was:

Which of the following would be classified as a financing activity on the statement of cash flows?

A gain on the sale of equipment would be included as part of a company's financing activities on the statement of cash flows.

Moren Corporation's net cash provided by operating activities was $95;its net income was $71;its capital expenditures were $70;and its cash dividends were $18.The company's free cash flow was:

Binnie Corporation's most recent balance sheet appears below: Net income for the year was $83. Cash dividends were $16. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. -The net cash provided by (used in)investing activities for the year was:

The following transactions occurred last year at Jogger Company: Based solely on the above information,the net cash provided by financing activities for the year on the statement of cash flows would be:

For liability accounts,debits are added to the beginning balance on the statement of cash flows.