Question :
127.On the statement of cash flows worksheet,
a.significant noncash investing and : 1311967
127.On the statement of cash flows worksheet,
a.significant noncash investing and financing activities are not entered in the reconciling columns.
b.a decrease in cash will be offset by a debit in the reconciling items columns at the bottom of the worksheet.
c.an increase in cash will be offset by a debit in the reconciling items column at the bottom of the worksheet.
d.income statement accounts are listed after balance sheet accounts in the top half of the worksheet under the indirect method.
128.In the Paper Corporation, cash receipts from customers were $138,000, cash payments for operating expenses were $102,000, and one-third of the company’s $6,300 income taxes were paid during the year. Net cash provided by operating activities is:
a.$36,000.
b.$29,700.
c.$33,900.
d.$31,800.
129.Each of the following would be reported under operating activities except cash receipts
a.from sales of goods.
b.from sales of investments.
c.of interest on loans.
d.of dividends from investments.
130.Which of the following statements concerning the statement of cash flows is true?
a.The statement of cash flows is usually more accurate when using the indirect method.
b.If the direct method is used, a supplementary schedule reconciling the net income to net cash from operating activities must still be provided.
c.The statement of cash flows reflects both earnings per share and cash per share.
d.The statement of cash flows is an optional financial statement for external reporting purposes.
131.Crush Company reports the following:
End of YearBeginning of Year
Inventory$27,000$42,000
Accounts Payable32,00012,000
If cost of goods sold for the year is $210,000, the amount of cash paid to suppliers is
a.$215,000.
b.$205,000.
c.$175,000.
d.$245,000.
132.During the year, Salaries and Wages Payable decreased by $6,000. If Salaries and Wages Expense amounted to $170,000 for the year, the cash paid to employees (including deductions from gross pay) is
a.$176,000.
b.$170,000.
c.$164,000.
d.$182,000.
133.Gore Company reports a $16,000 increase in inventory and a $6,000 increase in accounts payable during the year. Cost of Goods Sold for the year was $160,000. The cash payments made to suppliers were
a.$160,000.
b.$170,000.
c.$140,000.
d.$155,000.
134.Ranger Company had credit sales of $550,000. The beginning accounts receivable balance was $40,000 and the ending accounts receivable balance was $140,000. What were the cash collections from customers during the period?
a.$650,000
b.$550,000
c.$450,000
d.$590,000
135.Hark Inc. had cash sales of $400,000 and credit sales of $1,100,000. The accounts receivable balance increased $25,000 during the year. How much cash did Hark receive from its customers during the year?
a.$1,475,000
b.$1,075,000
c.$1,500,000
d.$725,000
136.Barry Company had a cost of purchases of $250,000. The comparative balance sheet analysis revealed a $10,000 decrease in inventory and a $20,000 increase in accounts payable. What were Barry’s cash payments to suppliers?
a.$230,000
b.$220,000
c.$260,000
d.$280,000
