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Exam 14: Statement of Cash Flows

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Question 21

True/False

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The net cash provided by operating activities on the statement of cash flows does not include any dividends paid to the company's own shareholders.

A) True
B) False

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Question 22

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Randal Corporation recorded the following activity for the year just ended: -The net cash provided by (used in) investing activities for the year was:

A) $100,000
B) $(100,000)
C) $(400,000)
D) $400,000

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

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Question 23

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Walmouth Corporation's comparative balance sheet and income statement for last year appear below: The company declared and paid a cash dividend of $54,000 during the year. It did not purchase or dispose of any property, plant, and equipment. It did not issue any bonds 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:

In a statement of cash flows,a change in an income taxes payable account would be recorded in the:

Salsedo Corporation's balance sheet and income statement appear below: Cash dividends were $9. The company sold equipment for $15 that was originally purchased for $10 and that had accumulated depreciation of $5. It did not issue any bonds payable or repurchase any of its own common stock. -The net cash provided by (used in) operating activities for the year was:

Alcoser Corporation's most recent balance sheet appears below: Net income for the year was $60. Cash dividends were $12. 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:

Shoshoni Corporation prepares its statement of cash flows using the indirect method.Which of the following would be added to net income in the operating activities section of the statement?

Paying taxes to governmental bodies is considered a cash outflow in the operating activities section on the statement of cash flows.

Financial statements of Rukavina Corporation follow: Cash dividends were $8. 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) operating activities for the year was:

Clayborn Corporation's net cash provided by operating activities was $111,000; its net income was $101,000; its income taxes were $43,000; its capital expenditures were $90,000; and its cash dividends were $28,000. Required: Determine the company's free cash flow.

Free cash flow is net cash provided by operating activities less capital expenditures.

An increase in accounts receivable of $1,000 over the course of a year would be shown on the company's statement of cash flows prepared under the indirect method as:

Norbury Corporation's net income last year was $34,000.The company did not sell or retire any property,plant,and equipment last year.Changes in selected balance sheet accounts for the year appear below: Based solely on this information,the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:

Swinger Corporation's comparative balance sheet appears below: The company did not dispose of any property,plant,and equipment during the year.Its net income for the year was $10,000.The net cash provided by (used in) operating activities is:

The collection of a loan made to a supplier would be treated as an investing activity on a statement of cash flows.

When computing the net cash provided by operating activities under the indirect method on the statement of cash flows,an increase in prepaid expenses would be added to net income.

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

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

Furis Corporation's cash and cash equivalents consist of cash and marketable securities.Last year the company's cash account decreased by $12,000 and its marketable securities account increased by $19,000.Net cash provided by (used in) operating activities was $18,000.Net cash provided by (used in) financing activities was $(12,000) .Based on this information,the net cash provided by (used in) investing activities on the statement of cash flows was:

Belk Corporation's balance sheet appears below: The net income for the year was $126.Cash dividends were $21.The company did not dispose of any property,plant,and equipment,issue any bonds payable,or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.