
Chapter 13 - Cash Flows
Flashcard
•
Business
•
12th Grade
•
Hard
Wayground Content
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20 questions
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1.
FLASHCARD QUESTION
Front
An asset with an original cost of $60,000 and accumulated depreciation of $15,000 was sold at a gain of $5,000. What is the amount of cash received?
Back
$50,000
2.
FLASHCARD QUESTION
Front
A piece of equipment with a book value of $40,000 is sold for $50,000 cash. Using the indirect method, how should this transaction be shown on the statement of cash flows?
Back
an increase of $50,000 from investing activities and a deduction from net income of $10,000
3.
FLASHCARD QUESTION
Front
Which of the following would be classified under cash flows from investing activities on the statement of cash flows? proceeds from issuing bonds, cash paid for purchasing equipment, cash received from customers, cash paid for interest on loans
Back
cash paid for purchasing equipment
4.
FLASHCARD QUESTION
Front
Calculate the net cash flow from operating activities using the indirect method given the following information: Net income $200,000 Depreciation expense 35,000 Increase in inventory 18,000 Increase in accrued liabilities 12,000
Back
$229,000
5.
FLASHCARD QUESTION
Front
What is the cash flow from operating activities to be reported on the statement of cash flows using the indirect method if inventory was valued at $30,000 at the beginning of the year and $45,000 at the end of the year, with a net income of $120,000?
Back
$105,000
6.
FLASHCARD QUESTION
Front
When using the indirect method to calculate net cash flows from operating activities, which of the following should be subtracted from net income? an increase in accounts receivable, a decrease in inventory, an increase in accounts payable, a decrease in accrued liabilities
Back
an increase in accounts receivable
7.
FLASHCARD QUESTION
Front
Which of the following transactions would result in an increase in cash flow?
payment of accounts payable,
purchase of equipment for cash,
issuing common stock for cash,
repayment of a bank loan
Back
issuing common stock for cash
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