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Exam 16: Statement of Cash Flows

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Question 81

Multiple Choice

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Cash flow per share is

A) required to be reported on the balance sheet
B) required to be reported on the income statement
C) required to be reported on the statement of cash flows
D) not required to be reported on any statement

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Question 82

Multiple Choice

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Accounts receivable from sales transactions were $51,000 at the beginning of the year and $64,000 at the end of the year. Net income reported on the income statement for the year was $105,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is

A) $105,000
B) $118,000
C) $92,000
D) $169,000

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Question 83

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The declaration and issuance of a stock dividend would be reported on the statement of cash flows.

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

Which of the following would not be found in a Schedule of Noncash Investing and Financing Activities, reported at the end of a Statement of Cash Flows?

Income tax was $175,000 for the year. Income tax payable was $30,000 and $40,000 at the beginning and end of the year. Cash payments for income tax reported on the cash flow statement using the direct method is

Cash receipts received from the issuance of a mortgage notes payable would be classified as

Master Designs Company has cash flows for operating activities of $350,000. Cash flows used for investments in property, plant, and equipment totaled $65,000, of which 70% of this investment was used to replace machinery to maintain existing capacity. What is the free cash flow for Master Designs?

Which of the following should be deducted from net income in calculating net cash flow from operating activities using the indirect method?

Net income was $51,000 for the year. The accumulated depreciation balance increased by $14,000 over the year. There were no sales of fixed assets or changes in noncash current assets or liabilities. Under the indirect method, the cash flow from operations is $37,000.

Which one of the following below should be added to net income in calculating net cash flow from operating activities using the indirect method?

The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows?

Cash outflows from financing activities include the payment of cash dividends, the acquisition of treasury stock, and the repayment of amounts borrowed.

Cost of merchandise sold reported on the income statement was $155,000. The accounts payable balance increased $5,000, and the inventory balance increased by $11,000 over the year. Determine the amount of cash paid for merchandise.

The Dickinson Company reported net income of $155,000 for the current year. Depreciation recorded on buildings and equipment amounted to $65,000 for the year. In addition, a building with an original cost of $250,000 and accumulated depreciation of $190,000 on the date of the sale, was sold for $75,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Instructions Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

Which of the following can be found on the statement of cash flows?

Which of the following represents an inflow of cash and therefore would be reported on the statement of cash flows?

On the statement of cash flows, the cash flows from financing activities section would include all of the following except

A company had net income of $252,000. Depreciation expense is $26,000. During the year, Accounts Receivable and Inventory increased by $15,000 and $40,000, respectively. Prepaid Expenses and Accounts Payable decreased by $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much cash was provided by operating activities?