Question 1

The following selected account balances are taken from a merchandising company's records:  (a)Calculate the cash payments made during 2015 for merchandise.Assume all of the company's accounts payable balances result from merchandise purchases.
(b)Calculate the cash receipts from customer sales during 2015.
(c)Calculate the cash payments for salaries during 2015.

Accepted Answer

The answer of The following selected account balances are taken...

Question 2

Bagrov Corporation had a net decrease in cash of $10,000 for the current year.Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000.What amount of cash was provided (used) in operating activities?

Accepted Answer

A)  $100,000 provided.
B)  ($100,000) used.
C)  $80,000 provided.
D)  ($80,000) used.
E)  ($10,000) useD.Operating - 52,000 investing - 38,000 financing = 10,000 cash decreaseF) C) and D)
G) B) and D)

Question 3

When analyzing the changes on a spreadsheet used to prepare a statement of cash flows,the cash flows from operating activities generally affect:

Accepted Answer

A)  Net income,current assets,and current liabilities.
B)  Noncurrent assets.
C)  Noncurrent liability and equity accounts.
D)  Both noncurrent assets and noncurrent liabilities.
E)  Equity accounts only.F) None of the above
G) C) and E)

Question 4

The cash flow on total assets ratio is computed by dividing _____________ by ____________.
(Answers must appear in this order. )

Accepted Answer

cash flows...

Question 5

Use the following information to calculate cash paid for income taxes:

Accepted Answer

A)  $23,700.
B)  $52,100.
C)  $53,200.
D)  $41,900.
E)  $43,000.F) B) and C)
G) C) and D)

Question 6

In preparing a company's statement of cash flows for the most recent year using the indirect method,the following information is available:  Net cash provided by operating activities was:

Accepted Answer

A)  $120,000.
B)  $71,000.
C)  $70,000.
D)  $24,000.
E)  $110,000.F) D) and E)
G) C) and D)

Question 7

The statement of cash flows is:

Accepted Answer

A)  Another name for the statement of financial position.
B)  A financial statement that presents information about changes in equity during a period.
C)  A financial statement that reports the cash inflows and cash outflows for an accounting period,and that classifies those cash flows as operating activities,investing activities,or financing activities.
D)  A financial statement that lists the types and amounts of assets,liabilities,and equity of a business on a specific date.
E)  A financial statement that lists the types and amounts of the revenues and expenses of a business for an accounting period.F) All of the above
G) A) and E)

Question 8

Northington,Inc.is preparing the company's statement of cash flows for the fiscal year just ended.Using the following information,determine the amount of cash flows from financing activities:

Accepted Answer

A)  ($168,000) .
B)  $200,000.
C)  $168,000.
D)  ($191,700) .
E)  $191,700.F) All of the above
G) C) and D)

Question 9

Cash flows from selling trading securities are usually reported in the statement of cash flows as part of:

Accepted Answer

A)  Operating activities.
B)  Financing activities.
C)  Investing activities.
D)  Noncash activities.
E)  This is not reported in the statement of cash flows.F) B) and E)
G) B) and C)

Question 10

___________________ activities include those transactions that affect long-term liabilities and equity.

Accepted Answer

The answer of ___________________ activities include those transactions that affect...

Question 11

Of the following,which one affects cash during a period?

Accepted Answer

A)  The payment of interest expense accrued in a previous accounting period.
B)  Writing off an uncollectible account receivable.
C)  The declaration of a cash dividend.
D)  An adjusting entry recognizing the expiration of prepaid insurance.
E)  The declaration of a stock dividend.F) A) and E)
G) D) and E)

Question 12

Use the following information to calculate cash paid for wages and salaries:

Accepted Answer

A)  $157,400.
B)  $163,800.
C)  $168,000.
D)  $172,200.
E)  $174,400.F) All of the above
G) C) and D)

Question 13

Common uses of the statement of cash flows include all but which of the following?

Accepted Answer

A)  Management prediction of future cash flows for decision making.
B)  Investor assessment of cash flows before buying and selling stock.
C)  Creditor evaluation of a company's ability to generate cash to cover debt.
D)  Government assessment of whether company is able to pay taxes as they become due.
E)  Management determination of the specific sources and uses of cash.F) None of the above
G) All of the above

Question 14

A company's income statement showed the following: net income,$124,000 and depreciation expense,$30,000.An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400;merchandise inventory increased $18,000;and accounts payable increased $3,400.Calculate the net cash provided or used by operating activities.

Accepted Answer

A)  $118,000.
B)  $159,200.
C)  $123,200.
D)  $148,800.
E)  $178,000.F) B) and E)
G) B) and C)

Exam 16: Reporting the Statement of Cash Flows

___________________ activities include those transactions that affect long-term liabilities and equity.

Correct Answer
verified

Use the following information to calculate cash paid for wages and salaries:

Correct Answer
verified

Cash flows from selling trading securities are usually reported in the statement of cash flows as part of:

Correct Answer
verified

Correct Answer
verified

Use the following information to calculate cash paid for income taxes:

Correct Answer
verified

Common uses of the statement of cash flows include all but which of the following?

Correct Answer
verified

Northington,Inc.is preparing the company's statement of cash flows for the fiscal year just ended.Using the following information,determine the amount of cash flows from financing activities:

Correct Answer
verified

The statement of cash flows is:

Correct Answer
verified

When analyzing the changes on a spreadsheet used to prepare a statement of cash flows,the cash flows from operating activities generally affect:

Correct Answer
verified

Correct Answer
verified

Of the following,which one affects cash during a period?

Correct Answer
verified

The cash flow on total assets ratio is computed by dividing _ by . (Answers must appear in this order. )

Correct Answer
verified
cash flows...
View Answer

In preparing a company's statement of cash flows for the most recent year using the indirect method,the following information is available: Net cash provided by operating activities was:

Correct Answer
verified

Bagrov Corporation had a net decrease in cash of $10,000 for the current year.Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000.What amount of cash was provided (used) in operating activities?

Correct Answer
verified

Exam 16: Reporting the Statement of Cash Flows

___________________ activities include those transactions that affect long-term liabilities and equity.

Correct AnswerverifiedShow Answer

Use the following information to calculate cash paid for wages and salaries:

Correct AnswerverifiedShow Answer

Cash flows from selling trading securities are usually reported in the statement of cash flows as part of:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Use the following information to calculate cash paid for income taxes:

Correct AnswerverifiedShow Answer

Common uses of the statement of cash flows include all but which of the following?

Correct AnswerverifiedShow Answer

Northington,Inc.is preparing the company's statement of cash flows for the fiscal year just ended.Using the following information,determine the amount of cash flows from financing activities:

Correct AnswerverifiedShow Answer

The statement of cash flows is:

Correct AnswerverifiedShow Answer

When analyzing the changes on a spreadsheet used to prepare a statement of cash flows,the cash flows from operating activities generally affect:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Of the following,which one affects cash during a period?

Correct AnswerverifiedShow Answer

The cash flow on total assets ratio is computed by dividing _____________ by ____________. (Answers must appear in this order. )

Correct Answerverifiedcash flows...View AnswerShow Answer

In preparing a company's statement of cash flows for the most recent year using the indirect method,the following information is available: Net cash provided by operating activities was:

Correct AnswerverifiedShow Answer

Bagrov Corporation had a net decrease in cash of $10,000 for the current year.Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000.What amount of cash was provided (used) in operating activities?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The cash flow on total assets ratio is computed by dividing _ by . (Answers must appear in this order. )

Correct Answer
verified
cash flows...
View Answer

Correct Answer
verified

Correct Answer
verified