On the statement of cash flows, the cash flows from ...
On the statement of cash flows, the cash flows from operating activities section would includea.payments for the acquisition of investments b.cash receipts from sales activities c.receipts from the sale of investments d.receipts from the issuance of capital stock Preferred stock issued in exchange for land would be reported in the statement of cash flows ina.the cash flows from investing activities section b.a separate schedule c.the cash flows from financing activities section d.the cash flows from operating activities section A ten-year bond was issued at par for $150,000 cash. This transaction should be shown on a statement of cash flows undera.financing activities b.investing activities c.operating activities d.noncash investing and financing activities Which of the following should be shown on a statement of cash flows under the financing activity section?a.the proceeds from the sale of a building b.the payment of cash to retire a long-term note c.the issuance of a long-term note to acquire land d.the purchase of a long-term investment in the common stock of another company On the statement of cash flows prepared by the indirect method, the cash flows from operating activities section would includea.amortization of premium on bonds payable b.receipts from the issuance of capital stock c.payments for cash dividends d.receipts from the sale of investmentsThe net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:EndBeginningCash$50,000$60,000Accounts receivable112,000108,000Inventories105,00093,000Prepaid expenses4,5006,500Accounts payable (merchandise creditors)75,00089,000What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?a.$352,000 b.$296,000 c.$198,000 d.$324,000 If a gain of $9,000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows isa.$46,000 b.$64,000 c.$55,000 d.$9,000 The following selected account balances appeared on the financial statements of the Franklin Company:Accounts Receivable, Jan. 1$13,000Accounts Receivable, Dec. 319,000Accounts Payable, Jan 14,000Accounts payable Dec. 317,000Merchandise Inventory, Jan 110,000Merchandise Inventory, Dec 3115,000Sales56,000Cost of Goods Sold31,000The Franklin Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers area.$56,000 b.$60,000 c.$52,000 d.$45,000 The relationship of $225,000 to $125,000, expressed as a ratio, isa.1.8 to 1 b.2.0 to 1 c.1.5 to 1 d.0.56 to 1 If comparative balance sheets indicate no notes receivable on the preceding year and a $40,000 note receivable on the current year, the increase of $40,000a.can be stated as 0% b.can be stated as 500% increase c.cannot be stated as a percentage d.can be stated as 100% increase ?Based on the following data, what is the amount of quick assets?Accounts payable$??30,000Accounts receivable65,000Accrued liabilities7,000Cash20,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plant, and equipment625,000Prepaid expenses2,000a.$56,000 b.$163,000 c.$195,000 d.$121,000Based on the following data, what is the amount of working capital?Accounts payable$??30,000Accounts receivable65,000Accrued liabilities7,000Cash20,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plant, and equipment625,000Prepaid expenses2,000a.$238,000 b.$64,000 c.$138,000 d.$178,000 Based on the following data, what is the quick ratio, rounded to one decimal point?Accounts payable$??30,000Accounts receivable65,000Accrued liabilities7,000Cash20,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plant, and equipment625,000Prepaid expenses2,000a.1.5 b.3.4 c.2.4 d.2.1 ?Based on the following data, what is the amount of working capital?Accounts payable$??30,000Accounts receivable65,000Accrued liabilities7,000Cash25,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plant, and equipment625,000Prepaid expenses2,000a.$243,000 b.$143,000 c.$183,000 d.$69,000 Top of FormBottom of FormTop of FormBottom of FormTop of Form?MULTIPLE CHOICE 17-47Based on the following data, what is the quick ratio, rounded to one decimal point?Accounts payable$??30,000Accounts receivable65,000Accrued liabilities7,000Cash25,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plant, and equipment625,000Prepaid expenses2,000a.3.5 b.3.0 c.1.6 d.2.2 Bottom of Form ................
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