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Exam 14: Statement of Cash Flows

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Question 31

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Tani Corporation's most recent balance sheet appears below: The company's net income for the year was $18 and it did not sell or retire any property,plant,and equipment during the year.Cash dividends were $4.The net cash provided by (used in) investing activities for the year was:

A) ($45)
B) $45
C) ($3)
D) $3

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

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Question 32

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Negative free cash flow does not automatically signal poor performance.

A) True
B) False

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Question 33

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Krech Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. -The company's net cash provided by (used in) investing activities is:

Degeare Corporation's balance sheet and income statement appear below: Cash dividends were $10.The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5.The net cash provided by (used in) operating activities for the year was:

Beacham Corporation's net cash provided by operating activities was $115; its net income was $95; its capital expenditures were $65; and its cash dividends were $17.The company's free cash flow was:

An increase in accrued liabilities of $1,000 during a year would be shown on the company's statement of cash flows prepared under the indirect method as:

The following transactions occurred last year at Jolly Corporation: Based solely on the above information,the net cash provided by (used in) financing activities for the year on the statement of cash flows would be:

Last year Burch Corporation's cash account decreased by $6,000.Net cash provided by (used in) investing activities was $13,000.Net cash provided by (used in) financing activities was $(30,000) .On the statement of cash flows,the net cash provided by (used in) operating activities was:

Vandy Corporation's balance sheet and income statement appear below: The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12.It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock. Required: Prepare a statement of cash flows for the year using the indirect method.

Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows,a loss on the sale of an asset would be added to net income.

Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows,a decrease in inventory would be added to net income.

Illies Corporation's comparative balance sheet appears below: The company did not dispose of any property,plant,and equipment during the year.Its net income for the year was $5,000 and its cash dividends were $4,000.The company did not issue any bonds payable or purchase any of its own common stock during the year.Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:

McCorey Corporation recorded the following events last year: On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. -Based solely on the information above,the net cash provided by (used in) investing activities on the statement of cash flows would be:

Cash payments to insurers and utility providers are considered operating activities on the statement of cash flows.

Krech Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. -The company's net cash provided by (used in) operating activities is:

Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below: The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company 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 last year was:

Financial statements of Rukavina Corporation follow: Cash dividends were $8. 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) financing activities for the year was:

The Warrel Corporation reported the following data for last year: Based solely on this information,the net cash provided by (used in) financing activities on the statement of cash flows would be:

Excerpts from Aultman Corporation's comparative balance sheet appear below: Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method?

McCorey Corporation recorded the following events last year: On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. -Based solely on the information above,the net cash provided by (used in) financing activities on the statement of cash flows would be: