FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 13: Statement of Cash Flows

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

Multiple Choice

Review LaterAdd Note

Review Later

​When using the spreadsheet (work sheet) for the statement of cash flows,indirect method,entries made on the spreadsheet are ​

A) not recorded in the journal or posted to the ledger
B) recorded in the journal and posted to the ledger
C) recorded in the journal but not posted to the ledger
D) not recorded in to the journal but are posted to the ledger

E) None of the above
F) A) and B)

Correct Answer

verified

Show Answer

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

Identify the section of the statement of cash flows (a-d) where each of the following items would be reported. -Payment of dividends to stockholders

A) Operating activities
B) Financing activities
C) Investing activities
D) Schedule of noncash financing and investing

E) C) and D)
F) A) and B)

Correct Answer

verified

Show Answer

Question 3

Multiple Choice

Review LaterAdd Note

​The operating cash flow available for company use after purchasing the fixed assets that are necessary to maintain current operations is called the

Lamar Corporation purchased land for $150,000.Later in the year,the company sold land with a book value of $190,000 for $200,000.Show how the effects of these transactions are reported on the statement of cash flows using the indirect method.

The manner of reporting cash flows from investing and financing activities will be different under the direct method as compared to the indirect method.

Preferred stock issued in exchange for land would be reported in the statement of cash flows in

On the basis of the details of the common stock account presented below,calculate the total amount to be recorded in financing section of the statement of cash flows.Assume any stock issues were at par. ​ Indicate whether the amount results in an increase or decrease in cash.

Rogers Company reported net income of $35,000 for the year.During the year,accounts receivable increased by $7,000,accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded.Net cash provided by operating activities for the year is

Which of the following does not represent an outflow of cash and therefore would not be reported on the statement of cash flows as a use of cash?

The comparative balance sheets of Posner Company,for Years 1 and 2 ended December 31,appear 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 flow,using the indirect method of reporting cash flows from operating activities.

Cash flow per share is

A cash flow per share amount should be reported on the statement of cash flows.

Selected data for the current year ended December 31 are as follows: ​ During the current year,the cost of goods sold was $620,000 and the operating expenses other than depreciation were $142,000.The direct method is used for presenting the cash flows from operating activities on the statement of cash flows. Determine the amount reported on the statement of cash flows for (a)cash payments for merchandise and (b)cash payments for operating expenses.

The board of directors of Kendall Co.declared cash dividends totaling $390,000 during the current year.The comparative balance sheet indicates dividends payable of $58,000 at the beginning of the year and $73,000 at the end of the year.What was the amount of cash payments Kendall Co.made to stockholders during the year?

​Which of the following would not be on the statement of cash flows?

The current period statement of cash flows includes the following: ​ The cash balance at the end of the period is

Repayments of bonds would be shown as a cash outflow in the investing section of the statement of cash flows.

Cash flows from investing activities,as part of the statement of cash flows,would include any receipts from the sale of land.

Cash flows from financing activities,as part of the statement of cash flows,would include any payments for dividends.

Identify the section of the statement of cash flows (a-d) where each of the following items would be reported. -Increase in income taxes payable