ACC 206 Week 9 Quiz Chapter 17 -
Multiple Choice Question 70
Accounts receivable arising from sales to customers amounted to $86,000 and $77,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $290,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
Multiple Choice Question 73
Adama Company reported a net loss of $6,000 for the year ended December 31, 2014. During the year, accounts receivable increased $15,000, merchandise inventory decreased $12,000, accounts payable decreased by $20,000, and depreciation expense of $12,000 was recorded. During 2014, operating activities
- used net cash of $29,000.
- provided net cash of $24,000.
- used net cash of $17,000.
- provided net cash of $21,000.
Multiple Choice Question 74
The net income reported on the income statement for the current year was $220,000. Depreciation recorded on plant assets was $35,000. Accounts receivable and inventories increased by $2,000 and $8,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $12,000 respectively. How much cash was provided by operating activities?
Multiple Choice Question 122
During 2014, Harvey Industries reported cash provided by operations of $670,000, cash used in investing of $1,039,000, and cash used in financing of $145,000. In addition, cash spent for fixed assets during the period was $404,000. No dividends were paid. Based on this information, what was Harvey's free cash flow?
Multiple Choice Question 107
The following data are available for Sampson Corporation.
Net income $200,000
Depreciation expense 60,000
Dividends paid 90,000
Loss on sale of land 15,000
Decrease in accounts receivable 30,000
Decrease in accounts payable 45,000
Net cash provided by operating activities is:
Multiple Choice Question 42
In addition to the three basic financial statements, which of the following is also a required financial statement?
- the Statement of Cash Inflows and Outflows
- the "Cash Reconciliation"
- the "Cash Budget"
- the Statement of Cash Flows
Multiple Choice Question 50
Financing activities involve
- acquiring long-lived assets.
- acquiring investments.
- lending money.
Multiple Choice Question 96
Which of the following adjustments to convert net income to net cash provided by operating activities is correct?
Add to Net Income Deduct from Net Income
- Accounts Receivable increase decrease
- Inventory decrease increase
- Prepaid Expenses increase decrease
- Taxes Payable decrease increase
Multiple Choice Question 114
To determine the net cash provided (used) by operating activities, it is necessary to analyze
- the current year's income statement.
- additional information.
- a comparative balance sheet.
Multiple Choice Question 95
In calculating cash flows from operating activities using the indirect method, a loss on the sale of equipment will appear as a(n)
- subtraction from net income.
- subtraction from cash flow from investing activities.
- addition to cash flow from investing activities.