Homework Answers
OPTION: Does not represent a cash flow
EXPLANATION:
Stock are issue for which consideration in not in cash but in kind i.e. equipment. And hence it does not represent a cash flow.
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Assume that the Ecuyer Company uses the indirect method to depict cash flows. Indicate where, if...
Assume that Company A uses indirect method to depict cash flows. Indicate where, if at all,...
Assume that Company A uses indirect method to depict cash flows. Indicate where, if at all, a stock issued for purchasing a patent would be classified on the statement of cash flows. a. Operating activities section b. Investing activities section c. Financing activities section d. Does not represent a cash flow
Multiple Choice Question 66 Assume that the E-Zip Corporation uses the indirect method to depict cash...
Multiple Choice Question 66 Assume that the E-Zip Corporation uses the indirect method to depict cash flows. Indicate where, if at all, land and building purchased with a mortgage would be classified on the statement of cash flows. O Financing activities section. O Does not represent a cash flow. O Investing activities section. O Operating activities section.
Saved Ingles Corporation purchased land and building, indicate where, if at all, it would be classified...
Saved Ingles Corporation purchased land and building, indicate where, if at all, it would be classified on the statement of cash flows Question 14 options: 1) operating activities section 2) investing activities section 3) financing activities section 4) does not represent a cash flow Question 15 (1 point) Saved Ingles Corporation experienced a decrease in accounts receivable, indicate where, if at all, it would be classified on the statement of cash flows. Question 15 options: 1) operating activities section. 2)...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
AP-1B LO 3 Indicate the section of the statement of cash flows where each item would...
AP-1B LO 3 Indicate the section of the statement of cash flows where each item would be located (operating, investing or financing activities) using the indirect method. Also indicate whether the item would increase or decrease cash using the indirect method. Item Section Effect on Cash Decrease Investing Loss on sale of equipment Decrease in accounts payable Increase in food inventory Depreciation expense Gain on sale of investments Dividends paid Issuance of shares in the company Net income Decrease in...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Suppose AF company uses the indirect method to prepare the cash flow statement. Indicate which of...
Suppose AF company uses the indirect method to prepare the cash flow statement. Indicate which of the following items will appear in the cash flow from financing activities section of the cash flow statement. [Tick all that apply]. Cash paid to buy back bonds Cash paid to buy back company's own stock Cash paid to purchase equipment. Cash proceeds from the sale of the equipment Depreciation expense Dividends paid Gain on the sale of the equipment Interest expense
Mimos Woodworking Company is preparing its statement of cash flows using the indirect method. During the...
Mimos Woodworking Company is preparing its statement of cash flows using the indirect method. During the year, Thomas Woodworking sold equipment for $6490 cash. The net book value of the asset was $4770. Which of the Following statements is true! The gain on sale of $1,720 is shown as a positive cash flow in the financing activities section The cash receipt of $6.490 is shown as a positive cash flow in the investing activities section. The book value of the...
Blossom Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash flows...
Blossom Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash flows from operating activities Net income $86,081 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Loss on disposal of plant assets $13,277 13,861 (7,295) (3,210) 4,815 21,448 Net cash provided by operating activities Cash flows from investing activities Sale of investments Purchase of equipment 107,529 4,523 35,308) Net...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities section. (c) Schedule of noncash investing and financing activities. (d) Cash flows from operating activities section. 14. Preferred stock issued in exchange for land would be reported in the statement of cash flows in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities...
Multiple Choice Question 66 Assume that the E-Zip Corporation uses the indirect method to depict cash flows. Indicate where, if at all, land and building purchased with a mortgage would be classified on the statement of cash flows. O Financing activities section. O Does not represent a cash flow. O Investing activities section. O Operating activities section.
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
AP-1B LO 3 Indicate the section of the statement of cash flows where each item would be located (operating, investing or financing activities) using the indirect method. Also indicate whether the item would increase or decrease cash using the indirect method. Item Section Effect on Cash Decrease Investing Loss on sale of equipment Decrease in accounts payable Increase in food inventory Depreciation expense Gain on sale of investments Dividends paid Issuance of shares in the company Net income Decrease in...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Mimos Woodworking Company is preparing its statement of cash flows using the indirect method. During the year, Thomas Woodworking sold equipment for $6490 cash. The net book value of the asset was $4770. Which of the Following statements is true! The gain on sale of $1,720 is shown as a positive cash flow in the financing activities section The cash receipt of $6.490 is shown as a positive cash flow in the investing activities section. The book value of the...
Blossom Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash flows from operating activities Net income $86,081 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Loss on disposal of plant assets $13,277 13,861 (7,295) (3,210) 4,815 21,448 Net cash provided by operating activities Cash flows from investing activities Sale of investments Purchase of equipment 107,529 4,523 35,308) Net...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities section. (c) Schedule of noncash investing and financing activities. (d) Cash flows from operating activities section. 14. Preferred stock issued in exchange for land would be reported in the statement of cash flows in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities...
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