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Hirshberg Corporation's comparative balance sheet appears below: Hirshberg Corporation's comparative balance sheet appears below: The company's net income for the year was $11,000 and its cash dividends were $4,000. It did not sell or retire any property, plant, and equipment during the year. -The company's net cash provided by (used in) investing activities is: A) $(6,000) B) $(54,000) C) $(24,000) D) $(44,000) The company's net income for the year was $11,000 and its cash dividends were $4,000. It did not sell or retire any property, plant, and equipment during the year. -The company's net cash provided by (used in) investing activities is:


A) $(6,000)
B) $(54,000)
C) $(24,000)
D) $(44,000)

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

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Which of the following would be considered a cash inflow in the financing activities section of the statement of cash flows?


A) Issuing bonds payable.
B) Receiving cash from customers.
C) Sale of equipment.
D) Collection of a loan made to another company.

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

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Free cash flow decreases when a company issues common stock for cash.

A) True
B) False

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Stone Retail Corporation's most recent comparative Balance Sheet is as follows: Stone Retail Corporation's most recent comparative Balance Sheet is as follows: Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows. -What is Stone's net cash provided by (used in) operating activities? A) $(18,000) B) $(33,000) C) $69,000 D) $84,000 Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows. -What is Stone's net cash provided by (used in) operating activities?


A) $(18,000)
B) $(33,000)
C) $69,000
D) $84,000

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

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Alden Corporation's most recent comparative Balance Sheet is as follows: Alden Corporation's most recent comparative Balance Sheet is as follows: Alden's net income was $34,000.No equipment was purchased and no long-term investments were sold.There was a gain of $3,000 when equipment was sold.The accumulated depreciation on the equipment that was sold was $12,000.Cash dividends of $20,000 were declared and paid during the year. Required: Prepare Alden's statement of cash flows using the indirect method. Alden's net income was $34,000.No equipment was purchased and no long-term investments were sold.There was a gain of $3,000 when equipment was sold.The accumulated depreciation on the equipment that was sold was $12,000.Cash dividends of $20,000 were declared and paid during the year. Required: Prepare Alden's statement of cash flows using the indirect method.

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blured image * Net book value of equipment sold = Or...

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The most recent comparative balance sheet of Giacomelli Corporation appears below: 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? A) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be subtracted from net income B) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be subtracted from net income C) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be added to net income D) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be added to net income 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?


A) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be subtracted from net income
B) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be subtracted from net income
C) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be added to net income
D) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be added to net income

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

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Salsedo Corporation's balance sheet and income statement appear below: 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) investing activities for the year was: A) $(81) B) $(66) C) $66 D) $15 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) investing activities for the year was: A) $(81) B) $(66) C) $66 D) $15 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) investing activities for the year was:


A) $(81)
B) $(66)
C) $66
D) $15

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

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Randal Corporation recorded the following activity for the year just ended: Randal Corporation recorded the following activity for the year just ended: -The net cash provided by (used in) financing activities for the year was: A) $100,000 B) $550,000 C) $180,000 D) $680,000 -The net cash provided by (used in) financing activities for the year was:


A) $100,000
B) $550,000
C) $180,000
D) $680,000

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

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B

Marks Corporation's balance sheet appears below: Marks Corporation's balance sheet appears below: Net income for the year was $77.Cash dividends were $13.The company did not dispose of any property,plant,and equipment,retire 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. Net income for the year was $77.Cash dividends were $13.The company did not dispose of any property,plant,and equipment,retire 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.

Correct Answer

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Kaze Corporation's cash and cash equivalents consist of cash and marketable securities.Last year the company's cash account increased by $25,000 and its marketable securities account decreased by $15,000.Net cash provided by (used in) operating activities was $38,000.Net cash provided by (used in) investing activities was $9,000.Based on this information,the net cash provided by (used in) financing activities on the statement of cash flows was:


A) $(37,000) .
B) $37,000 .
C) $(47,000) .
D) $47,000 .

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

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Marbry Corporation's balance sheet and income statement appear below: Marbry Corporation's balance sheet and income statement appear below: Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was: A) $4 B) ($22) C) ($5) D) ($21) Marbry Corporation's balance sheet and income statement appear below: Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was: A) $4 B) ($22) C) ($5) D) ($21) Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was:


A) $4
B) ($22)
C) ($5)
D) ($21)

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

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Which of the following would be classified as a financing activity on the statement of cash flows?


A) Paying suppliers for inventory purchases.
B) Interest paid to lenders.
C) Lending money to another company.
D) Repurchasing capital stock from owners.

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

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The amount of depreciation added to net income equals the sum of the debits to the Accumulated Depreciation account.

A) True
B) False

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Alcoser Corporation's most recent balance sheet appears below: 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) operating activities for the year was: A) $51 B) $69 C) $9 D) $86 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) operating activities for the year was:


A) $51
B) $69
C) $9
D) $86

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

Correct Answer

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Walmouth Corporation's comparative balance sheet and income statement for last year appear below: 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) investing activities last year was: A) $30,000 B) $(30,000) C) $(40,000) D) $40,000 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) investing activities last year was: A) $30,000 B) $(30,000) C) $(40,000) D) $40,000 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) investing activities last year was:


A) $30,000
B) $(30,000)
C) $(40,000)
D) $40,000

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

Correct Answer

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Adah Corporation prepares its statement of cash flows using the indirect method.Which of the following would be subtracted from net income in the operating activities section of the statement? Adah Corporation prepares its statement of cash flows using the indirect method.Which of the following would be subtracted from net income in the operating activities section of the statement?

Correct Answer

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NOTE TO THE INSTRUCTOR: The problem requirement does not indicate whether the indirect or direct method must be used to determine the net cash provided by operating activities.You can,if you choose,specify that either (or even both)methods be used.The solution contains solutions for both methods. --------------------------------------------------------------------- Dauber Corporation's comparative balance sheet and income statement for last year appear below: NOTE TO THE INSTRUCTOR: The problem requirement does not indicate whether the indirect or direct method must be used to determine the net cash provided by operating activities.You can,if you choose,specify that either (or even both)methods be used.The solution contains solutions for both methods. --------------------------------------------------------------------- Dauber Corporation's comparative balance sheet and income statement for last year appear below: The company declared and paid a cash dividend of $55,000 during the year.It did not sell any long-term investments,issue any bonds payable,or repurchase any of its own common stock. Required: a.Construct in good form the operating activities section of the company's statement of cash flows for the year. b.Construct in good form the investing activities section of the company's statement of cash flows for the year. c.Construct in good form the financing activities section of the company's statement of cash flows for the year. NOTE TO THE INSTRUCTOR: The problem requirement does not indicate whether the indirect or direct method must be used to determine the net cash provided by operating activities.You can,if you choose,specify that either (or even both)methods be used.The solution contains solutions for both methods. --------------------------------------------------------------------- Dauber Corporation's comparative balance sheet and income statement for last year appear below: The company declared and paid a cash dividend of $55,000 during the year.It did not sell any long-term investments,issue any bonds payable,or repurchase any of its own common stock. Required: a.Construct in good form the operating activities section of the company's statement of cash flows for the year. b.Construct in good form the investing activities section of the company's statement of cash flows for the year. c.Construct in good form the financing activities section of the company's statement of cash flows for the year. The company declared and paid a cash dividend of $55,000 during the year.It did not sell any long-term investments,issue any bonds payable,or repurchase any of its own common stock. Required: a.Construct in good form the operating activities section of the company's statement of cash flows for the year. b.Construct in good form the investing activities section of the company's statement of cash flows for the year. c.Construct in good form the financing activities section of the company's statement of cash flows for the year.

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a.Operating activities
INDIREC...

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Buckley Corporation's most recent comparative balance sheet appears below: Buckley Corporation's most recent comparative balance sheet appears below: The company's net income for the year was $91 and it paid a cash dividend of $22. It did not dispose of any property, plant, and equipment during the year. The company did not retire any bonds payable or repurchase any of its own common stock. -The free cash flow for the year was: A) $(8) B) $14 C) $128 D) $308 The company's net income for the year was $91 and it paid a cash dividend of $22. It did not dispose of any property, plant, and equipment during the year. The company did not retire any bonds payable or repurchase any of its own common stock. -The free cash flow for the year was:


A) $(8)
B) $14
C) $128
D) $308

E) C) and D)
F) All of the above

Correct Answer

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In a statement of cash flows,which of the following would be classified as an investing activity?


A) The sale of the company's own common stock for cash.
B) The sale of equipment.
C) Interest paid to a lender.
D) The issuance of bonds payable.

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

Correct Answer

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The data given below are from the accounting records of the Kuhn Corporation: The data given below are from the accounting records of the Kuhn Corporation: Based on this information,the net cash provided by (used in) operating activities using the indirect method would be: A) $55,000 B) $58,000 C) $50,000 D) $60,000 Based on this information,the net cash provided by (used in) operating activities using the indirect method would be:


A) $55,000
B) $58,000
C) $50,000
D) $60,000

E) None of the above
F) All of the above

Correct Answer

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C

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