ࡱ> 3525@ 0bjbj22 " XXZZZZ fD aaa  $ RL aaaaa  y y y a: y a y &y  z 0_sZ  0D ) F   0aay aaaaa vo vThe statement of cash flows reports ________. cash flows from operating activities total assets total changes in stockholders' equity changes in retained earnings 2. Which of the following does not represent an outflow of cash and therefore would not be reported on the statement of cash flows as a use of cash? purchase of noncurrent assets purchase of treasury stock discarding an asset that had been fully depreciated payment of cash dividends The last item on the statement of cash flows prior to the schedule of noncash investing and financing activities reports ________. the increase or decrease in cash cash at the end of the year net cash flow from investing activities net cash flow from financing activities 4. Cash paid for equipment would be reported in the statement of cash flows in ________. the cash flows from operating activities section the cash flows from financing activities section the cash flows from investing activities section a separate schedule 5. If accounts payable have increased during a period ________. revenues on an accrual basis are less than revenues on a cash basis expenses on an accrual basis are less than expenses on a cash basis expenses on an accrual basis are the same as expenses on a cash basis expenses on an accrual basis are greater than expenses on a cash basis 6. Income tax was $400,000 for the year. Income tax payable was $30,000 and $40,000 at the beginning and end of the year. Cash payments for income tax reported on the cash flow statement using the direct method is _______. $400,000 $390,000 $430,000 $440,000 = $400,000 + $30,000 - $40,000 = $390,000 7. The cost of merchandise sold during the year was $50,000. Merchandise inventories were $12,500 and $10,500 at the beginning and end of the year, respectively. Accounts payable were $6,000 and $5,000 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total _________. $49,000 $47,000 $51,000 $53,000 Decrease in Inventory = $12,500 - $10,500 = $2,000 Decrease in Accounts Payable = $6,000 - $5,000 = $1,000 = $50,000 - $2,000 = $48,000 Add: Decrease in Accounts Payable $1,000 Cash payment for merchandise = $49,000 8. Identify whether each of the following would be reported as an operating, investing, or financing activity in the statement of cash flow. A)Issuance of bonds payable Financing B)Collection of accounts receivable Operating C)Purchase of investments Investing D)Disposal of equipment Investing E)Payment for selling expenses Operating F)Cash sales Operating what is the answer to Disposal of equipment? Financing Operating Investing None of the above 9. Zale corp accumulated depreciation-equipment increased by 8,000, while patents decreased by 5,200 between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of 6,000 from the sale of investments. Reconcile a net income of 90,000 to net cash flow from operating activities. what is the net cash flow from operating activities? $90,000 $108,000 $109,200 $98,000 = $90,000 + $8,000 + $5,200 + $6,000 = $109,200 10. Sage Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec 31, 2008Dec 31, 2007 Accounts receivable$ 12,000$ 14,000 Inventory 9,0006,500 Accounts payable8,5007,200 Dividends payable24,00026,000 what is the net cash flow from operating activities? $110,800 $113,300 $110,000 $115,800 = ($14,000 - $12,000) ($9,000 - $6,500) + ($8,500 - $7,200) ($26,000 - $24,000) /S{ V X z \ ~HISxy07@B6@ hiȾȾȾȾȾȾh(h(5\h(hh5\hhh5\hE;h5\hE;hE;5\hE;hMjhMjhMj5\hMjh5\hD hh5\hD h5\h7W X (*=?IKtvABhigd(gdMjgdMjgdgd 1h/ =!"#$%@@@ NormalCJ_HaJmH sH tH DA@D Default Paragraph FontRi@R  Table Normal4 l4a (k(No List@o@ Normal (Web)316dP<o< Mj Normal (Web)3dP*W`* MjStrong5\ WX( * = ? I K t v A B hi00p0p0p0p0p0p00p0p0p0p0p0p00000p00p0000p00p0p( * = ? I K t v Oy0 Oy0Oy0Oy0 Oy0Oy0 Oy0 Oy0 Oy0 Oy0 Oy0 Oy0 Oy0@0 X  8@0(  B S  ?LV /3@HX[eh-is{tB F x B F 33333333333 (giBusiness Tutori{hBFy)i{\_#seiu#."w!vhrF {"Z@_#+.^M%F {"dc*k+.[#bG0V2g`5V2%?Q[Z@G0~TphmHYQ[\G_~T[#bHYei%?kG_phmg`5vhr^M%."wdc*hBFy!D E;Mj(@p@UnknownGz Times New Roman5Symbol3& z Arial"qhSS&Ye Ye %24d3 L)?,The statement of cash flows reports ________Business TutorBusiness TutorOh+'0  4@ \ h t-The statement of cash flows reports ________d 1he Business TutorfusiusiNormalsBusiness Tutorf8siMicrosoft Word 10.0@dN@04nXs@ ^sYe ՜.+,0  hp  BusinessTutornA -The statement of cash flows reports ________ Title  !#$%&'()+,-./014Root Entry Fu_s6Data 1TableWordDocument" SummaryInformation("DocumentSummaryInformation8*CompObjj  FMicrosoft Word Document MSWordDocWord.Document.89q