Homework Answers
| TRUE |
| An increase in Accounts Payable from one accounting period to another indicates that less cash has been in current period than the total expense accruals in income statement. |
| An increase in Accounts Payable should be added to Net income to reconcile net income to net cash flow from operating activities. |
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Question 8 (3 points) TRUE or FALSE When using the indirect approach to constructing a Statement...
Which section of the statement of cash flows represents cash generated internally? O Cash Flow from...
Which section of the statement of cash flows represents cash generated internally? O Cash Flow from Operating Activities O Cash Flow from Investing Activities O Cash Flow from Financing Activities O All of the above represent internally generated cash. O None of the above represent cash that is generated internally. TRUE or FALSE When using the indirect approach to constructing a Statement of Cash Flows (this is the only approach taught in Fl 3300), an increase in Accounts payable from...
When using the T-account approach to preparing the indirect method of the statement of cash flows,...
When using the T-account approach to preparing the indirect method of the statement of cash flows, which of the following would be associated with amounts entered on the credit side of the Cash T-account? a. Increase in Inventory b. Decrease in Accounts Receivable c. Decrease in Inventory d. Increase in Accrued Liabilities
Question 5 When preparing the statement of cash flows under the indirect method, an appropriate procedure...
Question 5 When preparing the statement of cash flows under the indirect method, an appropriate procedure would be to subtract an increase in accounts receivable. subtract an increase in wages payable. subtract amortization expense. determine cash paid to suppliers. add a gain from the sale of a fixed asset. 1 points Question 6 Which of the following statements is incorrect, regarding the effect of depreciation on a statement of cash flows using the indirect method? Depreciation expense is not an...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which of the following is Hot an adjustm adjustment to reconcile net income to be cash vided by operating activities A) A change in income taxes payable B) A change in interest payable C) A change in dividends payable D) All of these are adjustments 20. When using the indirect method to prepare the operating section of a statement of cash llows, which of the...
41. Depreciation on factory equipment would be reported in the statement of cash flows prepared by...
41. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in a. the cash flows from investing activities section. b. a separate schedule. c. the cash flows from operating activities section. d. the cash flows from financing activities section. 42. Which of the following should be added to net income in calculating net cash flow from operating activities using the indirect method? a decrease in accounts receivable preferred dividends declared and...
Shoshoni Corporation prepares its statement of cash flows using the indirect method. Which of the following...
Shoshoni Corporation prepares its statement of cash flows using the indirect method. Which of the following would be added to net income in the operating activities section of the statement? Increase in Accounts Receivable Decrease in Accounts Payable A) Yes Yes B) Yes No C) No Yes D) No No
1. Which of the following would be added to net income using the indirect method? a....
1. Which of the following would be added to net income using the indirect method? a. An increase in prepaid expenses. b. Depreciation expense. c. A decrease in accounts payable. d. An increase in accounts receivable. 2. T/F Using the indirect method, an increase in accounts receivable during a period is deducted from net income in calculating cash provided by operations. 3. T/F A loss on sale of equipment is added to net income in determining cash provided by operations...
True of false: 1. if a company uses the direct method of calculating net cash flows from operating activities, it must adjust net income for gains or losses when selling property when selling property...
True of false: 1. if a company uses the direct method of calculating net cash flows from operating activities, it must adjust net income for gains or losses when selling property when selling property, plant, & equipment 2. when preparing the operating activities section of the statement of cash flows using the indirect method, an increase in income taxes payable is added to net income 3. the issuance of a stock dividend is a cash outflow in the financing activities...
When preparing the operating section of the statement of cash flows using the direct method, which...
When preparing the operating section of the statement of cash flows using the direct method, which of the following statements is true? a. A decrease in accounts payable is subtracted from expenses. b. An increase in accounts receivable is subtracted from sales. c. Depreciation expense is added to cash flows. d. Gains on sales of long-term assets are subtracted from cash flows.
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities....
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net Income for the 2021 fiscal year was $704,000. Depreciation and amortization expense of $83,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: look Decrease in accounts receivable Increase in inventory Increase in prepaid expenses Increase in salaries payable Decrease in income taxes payable $38,000 10.800 10,100 11,600 14,000...
Which section of the statement of cash flows represents cash generated internally? O Cash Flow from Operating Activities O Cash Flow from Investing Activities O Cash Flow from Financing Activities O All of the above represent internally generated cash. O None of the above represent cash that is generated internally. TRUE or FALSE When using the indirect approach to constructing a Statement of Cash Flows (this is the only approach taught in Fl 3300), an increase in Accounts payable from...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which of the following is Hot an adjustm adjustment to reconcile net income to be cash vided by operating activities A) A change in income taxes payable B) A change in interest payable C) A change in dividends payable D) All of these are adjustments 20. When using the indirect method to prepare the operating section of a statement of cash llows, which of the...
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net Income for the 2021 fiscal year was $704,000. Depreciation and amortization expense of $83,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: look Decrease in accounts receivable Increase in inventory Increase in prepaid expenses Increase in salaries payable Decrease in income taxes payable $38,000 10.800 10,100 11,600 14,000...
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