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Exam 13: Statement of Cash Flows

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Question 81

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Kennedy,Inc.reported the following data: ​ Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.

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Question 82

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Cash paid to acquire treasury stock should be shown on the statement of cash flows under investing activities.

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Question 83

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

Cash inflows and outflows are not netted in the investing or financing sections of the statement of cash flows but are separately disclosed to give the reader full information.

On the basis of the following data for Larson Co.for the year ending December 31 Year 2,and the preceding year ended December 31 Year 1,prepare a statement of cash flows.Use the indirect method of reporting cash flows from operating activities.In addition to the balance sheet data,assume that: Equipment costing $125,000 was purchased for cash. Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000. The stock was issued for cash. ​ The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000. ​

The comparative balance sheet of Barry Company for Years 1 and 2 ended December 31 appears below in condensed form: ​ Additional data for the current year are as follows: ​ Prepare a statement of cash flows using the indirect method.

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

On the statement of cash flows,the cash flows from operating activities section would include

Which of the following is a noncash investing and financing activity?

​Net income for the year was $45,500.Accounts receivable increased $5,500,and accounts payable increased by $11,200.Under the indirect method,the cash flow from operations is

Identify the section of the statement of cash flows (a-d) where each of the following items would be reported. -Decrease in accounts payable balance

The cost of goods sold during the year was $45,000.Inventories were $13,500 and $10,500 at the beginning and end of the year,respectively.Accounts payable (all owed to merchandise suppliers) were $7,000 and $5,000 at the beginning and end of the year,respectively.Using the direct method of reporting cash flows from operating activities,cash payments for merchandise total

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

In preparing the cash flows from operating activities section of the statement of cash flows by the indirect method,the amortization of bond discount for the period is deducted from the net income for the period.

If a business issued bonds payable in exchange for land,the transaction would be reported in a separate schedule on the statement of cash flows.

Land costing $140,000 was sold for $173,000 cash.The gain on the sale was reported on the income statement as other income.On the statement of cash flows,what amount should be reported as an investing activity from the sale of land?

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

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: ​ Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

The cash flows from operating activities are reported by the direct method on the statement of cash flows.Determine the following:

The statement of cash flows shows the effects on cash of a company's operating,investing,and financing activities.