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Exam 16: Reporting the Statement of Cash Flows

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Question 41

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_____________ activities include the cash effects of transactions and events that determine net income.

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Question 42

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Use the information provided to calculate the missing cash paid for merchandise for the period.

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Question 43

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The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended.The following information is available: What is the ending balance for retained earnings?

Which one of the following is representative of typical cash flows from operating activities?

Marshland Company is preparing the company's statement of cash flows for the fiscal year just ended.The following information is available: The amount of cash paid for dividends was:

Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $28,000;net cash used in investing activities was $10,000 and net cash used in financing activities was $12,000.If the beginning cash balance is $5,000,what is the ending cash balance?

Bagwell's net income for the year ended December 31,Year 2 was $175,000.Information from Bagwell's comparative balance sheets is given below.Compute the cash paid for dividends during Year 2.

Rowan,Inc.'s,income statement is shown below.Based on this income statement and the other information provided,calculate the net cash provided by operations using the indirect method. Additional information:

A company purchased equipment for $150,000 by paying $50,000 and signing a $100,000 note payable.The entire transaction is disclosed to users in the financing section of the statement of cash flows.

A company reported average total assets of $501,000 in Year 1 and $611,000 in Year 2.Its net operating cash flow in Year 1 was $41,500 and $55,250 in Year 2.Calculate its cash flow on total assets ratio for both years.Comment on the results.

The indirect method separately lists each major item of operating cash receipts and cash payments.

For each of the following independent cases,use the information provided to calculate the missing cash inflow or cash outflow using the direct method.

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 investing activities:

The statement of cash flows explains the difference between the beginning and ending balances of cash and cash equivalents.

Cash flows from interest received on loans are reported in the statement of cash flows as part of:

Receipts of cash dividends and interest earned on loans are classified as investing activities.

A machine with a cost of $130,000,accumulated depreciation of $85,000,and current year depreciation expense of $17,000 is sold for $40,000 cash.The amount that should be reported as a source of cash under cash flows from investing activities is:

Depreciation expense is not reported on a statement of cash flows prepared under the direct method.

A machine with a cost of $130,000,current year depreciation expense of $17,000 and accumulated depreciation of $85,000 is sold for $40,000 cash.The amount(s) that should be reported in the operating section of the statement of cash flows is:

Probably the most important section of the statement of cash flows in analyzing the financial performance of a company's ongoing business is the ____________ section.