ZuoTi.Pro
Question

On a company’s cash flow statement, the amount it receives when it borrows money would be...

  1. On a company’s cash flow statement, the amount it receives when it borrows money would be considered which type of cash flow?

    Operating

    Investing

    Financing

    Capital

2.85714 points

Question 28

  1. Under Generally Accepted Accounting Principles, which of the following assets is typically accounted for at fair value?

    Inventory

    Marketable Securities

    Patents

    Land

2.85714 points

Question 29

  1. The Abex Corp. spent $10,000 on a one-year insurance policy, on April 1st of Year 1. How much insurance expense should be recognized by Abex in its December 31, Year 1 income statement?

    None

    $2,500

    $7,500

    $10,000

2.85714 points

Question 30

  1. When the prices that a company must pay its vendors are rising, the method of accounting for inventory that normally results in the lowest ending inventory is

    LIFO

    FIFO

    Average Cost

    There is no difference among the three methods.
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

27. Option C

Financing activities

28. Option B

Marketable securities

29. Option C

Insurance expense for the year = 10,000/12*9 = 7,500
30. Option B

Comment if you face any issues

0 0
Add a comment
Know the answer?
Add Answer to:
On a company’s cash flow statement, the amount it receives when it borrows money would be...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • If prices are rising, which inventory cost flow method will produce the lowest amount of cost...

    If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold? FIFO Weighted average LIFO LIFO, FIFO, and the weighted-average inventory cost flow methods will all produce equal amounts of cost of goods sold. 1 points    QUESTION 7 West Corporation's Year 1 ending inventory was overstated by $20,000; however, ending inventory for Year 2 was correct. Which of the following statements is correct? Cost of goods sold for Year 1 is...

  • NORTHEAST ART SUPPLY, INC. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31,2017 CASH FLOW...

    NORTHEAST ART SUPPLY, INC. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31,2017 CASH FLOW FROM OPERATING ACTIVITIES: $30,175 Net Income Adjustments to reconcile net income to net cash flows S 8,500 Decrease in accounts receivable Increase in inventory Increase in accounts payable Increase in income taxes payable 1,000 (5,000) 6,000 3.000 13.500 $43,675 Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of Equipment Purchase of Investments Sale of Investments $ (2,000) (10,000) 20,000 Net...

  • Problem 13-10 Prepare a Statement of Cash Flows; Free Cash Flow Joyner Company’s income statement for...

    Problem 13-10 Prepare a Statement of Cash Flows; Free Cash Flow Joyner Company’s income statement for Year 2 follows: Sales $ 709,000 Cost of goods sold 362,000 Gross margin 347,000 Selling and administrative expenses 216,000 Net operating income 131,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 138,000 Income taxes 41,400 Net income $ 96,600 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and...

  • Free cash flow? Given the information above what is the amount of free cash flow for...

    Free cash flow? Given the information above what is the amount of free cash flow for the company for the year? Please provide formula/equations? BUS 7013 - Managerial Accounting Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Change Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000...

  • Free Cash flow question What is the amount of free cash flow for this company for...

    Free Cash flow question What is the amount of free cash flow for this company for the year? Please show formula/equation so i know how to solve for. Thank you! Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000...

  • Please provided formulas/equations so i know how to solve for. thank you! Cash Flow Statement Amount...

    Please provided formulas/equations so i know how to solve for. thank you! Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000 120,000 21,000 321,000 240,000 (76,000) 164,000 485.000 Change 32,000 (14,000) 21,000 (3,000) 36,000 58,000 (24,000) 34,000 70,000 800,000...

  • 1a Which inventory cost flow assumption generally results in the lowest reported amount for inventory when...

    1a Which inventory cost flow assumption generally results in the lowest reported amount for inventory when inventory costs are rising? Specific identification. First-in, first-out (FIFO). Last-in, first-out (LIFO). Average cost. 1 points    1b At the beginning of the year, Johnson Supply has inventory of $5,200. During the year, the company purchases an additional $20,000 of inventory. An inventory count at the end of the year reveals remaining inventory of $3,000. What amount will Bennett report for cost of goods...

  • 9. Preparing a budget A cash-flow budget uses the same format as a cash-flow statement. It...

    9. Preparing a budget A cash-flow budget uses the same format as a cash-flow statement. It is prepared on a monthly basis and it reflects budgeted income and expenses. In addition to the cash-flow statement, Soott and Mary made a list of budget assumptions, listed for you here: . scott's income will increase by 5%, effective January 1 His bonus is generally 10% of his income in the previous year, and he recerves it in January. Mary's raise will be...

  • Prepare a statement of cash flow using the indirect method for this year and determine the...

    Prepare a statement of cash flow using the indirect method for this year and determine the free cash flow. I have completed this this but I want to make sure my numbers add up correctly and not just a coincidence. Excel Assignment #1 - Statement of Cash Flow Spring Semester Northern Illinois Manufacturing prepared the balance sheet and income statement for this year. Now the company needs to prepare its statement of cash flow. The comparative balance sheets for Northern...

  • A cash-flow budget uses the same format as a cash-flow statement. It is prepared on a...

    A cash-flow budget uses the same format as a cash-flow statement. It is prepared on a monthly basis and it reflects budgeted income and expenses.In addition to the cash-flow statement, Deon and May made a list of budget assumptions: . Deon's income will increase by 5%, effective January 1 . His bonus is generally 10% of his income in the previous year, and he receives it in January. . May's raise will be 3%, effective January 1, Interest and dividend...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT