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Reporting and Analyzing Cash Flows
Reporting and Analyzing Cash Flows MCQs
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Which of the following activities is an operating activity?
issuing shares for a building
redemption of bonds at maturity
collecting the interest on an investment
purchasing the common shares of another corporation as an investment
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Which of the following activities would not be reported as an investing activity on a statement of cash flows?
collection of a loan made to an officer of the company
purchase of a patent from an inventor
sale of a plant asset at a price equal to its book value
cash dividends received from an investment made in another company
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Which of the following is an investing activity?
collecting the principal of a long-term note
withdrawals by a partner
issuing common shares for cash
issuing bonds at a discount
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Which of the following events represents an investing activity on a statement of cash flows?
selling equipment for cash
issuing a short-term note to a bank for cash
collecting receivables from credit customers
purchasing a one-year insurance policy
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Which of the following activities IS NOT an investing activity?
borrowing money
purchasing plant assets
purchasing an investment
collecting the principal of a note receivable
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Which of the following activities would NOT be considered a financing activity?
retirement of preferred shares
issuing bonds payable
paying cash dividends
purchasing land for cash
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Which of the following activities would NOT be reported on a schedule of noncash investing and noncash financing activities?
bonds payable were retired two years prior to maturity
convertible bonds were converted to common shares
a building was purchased through the issuance of a mortgage note
leasing a building where the title will revert to the lessee
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A company issued common shares for land valued at $450,000. The transaction would be reported on:
a statement of cash flows as both an investing and financing activity
a statement of cash flows as an investing activity, only
a separate schedule accompanying the statement of cash flows
a statement of retained earnings
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Which of the following transactions would NOT be reported on a statement of cash flows?
purchase of equipment
retirement of debt prior to maturity
exchange of common shares for equipment
sale of treasury shares at a price in excess of cost
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Which of the following IS NOT a step in preparing the statement of cash flows?
compute and report noncash investing and financing activities
compute and report the cash provided/used by operating activities
compute and report net cash provided/used by investing activities
compute and report net cash provided/used by financing activities
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Beginning balance of Accounts Receivable was $45,000, and the ending balance was $48,000. Sales were $430,000. What was the net cash inflow from custo...
$427,000
$433,000
$475,000
$382,000
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The cost of goods sold was $190,000. Beginning merchandise inventory was $14,000, and ending merchandise inventory was $22,000. During the year, prepa...
$201,000
$195,000
$198,000
$185,000
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The Prepaid Insurance account had a beginning balance of $14,000 and an ending balance of $24,000. During the accounting period a 3-year policy was pu...
$18,000
$19,000
$10,000
$2,000
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Which line is incorrect relative to the indirect method of preparing a statement of cash flows?
Result: Increase in accounts receivable; Indirect method: Added to net income
Result: Increase in merchandise; Indirect method: Deducted from net income
Result: Depreciation expense; Indirect method: Added to net income
Result: Decrease in taxes payable; Indirect method: Deducted from net income
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Under the indirect method, the net cash provided by operating activities was $92,000. Accounts receivable increased $4,000, merchandise inventory decr...
$31,000
$11,000
$17,000
$3,000
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The cash provided from operations was $23,000. The net increase in cash was $22,000. If the net cash inflow from financing activities was $15,000, the...
a net inflow of $16,000
a net outflow of $16,000
a net outflow of $14,000
a net inflow of $1,000
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The beginning balance of the Equipment account was $45,000; the ending balance was $54,000. The beginning balance of the Accumulated Amortization acco...
$14,000
$9,000
$23,000
$5,000
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When a long-term asset is sold for cash at a price in excess of its book value, the sale should be reported as an inflow of cash from an investing act...
selling price (proceeds)
book value
selling price less the amount of the gain
selling price plus the amount of the gain
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The following events occurred during the accounting period: Cash of $46,000 was received from the issue of common shares. Cash dividends of $11,000 we...
$44,000 provided
$29,000 provided
$25,000 provided
$35,000 used
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Which of the following activities IS NOT a financing activity?
borrowing money
selling plant and equipment
retiring preferred shares
issuing common shares for cash
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a. Machinery was purchased for $4,500 cash. b. $10,000 was borrowed on a long-term note. c. 1,000 common shares were issued for cash, at $5 per share....
$14,000 decrease
$37,000 decrease
$23,000 increase
$14,000 increase
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Cash dividends of $42,500 were declared. The beginning and ending balance of the cash dividends payable account was $10,000 and $12,500, respectively....
investing activity of $45,000
financing activity of $40,000
financing activity of $42,500
investing activity of $12,500
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The following events occurred during the accounting period: Cash of $33,000 was used to purchase a second-hand forklift. Cash of $12,000 was received ...
$21,000 used
$15,000 used
$7,000 used
$7,000 provided
