Question : 61.Dennis Corporation prepared the following data (in dollars) for the : 1257091

 

 

61.Dennis Corporation prepared the following data (in dollars) for the current year:  Using the indirect method, what is the net cash flow from operating activities?   

A. $146,800

 

B. $133,300

 

C. $101,200

 

D. $118,000

 

 

62.Leo Company reported sales of $200,000 in 2014. Leo’s balance sheets for 2014 and 2013 showed the following:  Based on this information, how much cash did Leo collect from sales during 2014?   

A. $204,000

 

B. $210,000

 

C. $290,000

 

D. $190,000

 

 

63.Which of the following would be reported as an investing activity on the statement of cash flows?   

A. Cash receipts from issuing common stock

 

B. Cash payments to purchase treasury stock

 

C. Cash payments to purchase investment securities

 

D. Cash payments for inventory purchases

 

 

64.Which of the following would not be reported as a financing activity on the statement of cash flows?   

A. Cash receipts from issuing common stock

 

B. Cash payments for interest

 

C. Cash payments to purchase treasury stock

 

D. Cash payments for dividends

 

 

65.On January 1, 2014, Steigel Company had a balance of $720,000 in its land account. During 2014, Steigel sold land that had cost $240,000 for $440,000 cash. The balance in the land account on December 31, 2014, was $980,000.Based on this information what is the net cash outflow from investing activities?   

A. $60,000

 

B. $120,000

 

C. $200,000

 

D. $280,000

 

 

66.The following information was drawn from Empire’s 2012 and 2011 year-end balance sheets.  Empire incurred a $1,500 loss on the sale of investment securities during 2014. Based on this information alone, what is the amount of cash that was collected from the sale of securities?   

A. $7,500

 

B. $6,000

 

C. $9,000

 

D. $1,500

 

 

67.Phibbs Company prepared the following data for the year.  What is the net cash flow from investing activities?   

A. $88,750 outflow

 

B. $141,250 outflow

 

C. $152,500 outflow

 

D. $41,250 outflow

 

 

68.The following information was drawn from Eckerd Company’s 2014 and 2013 year-end balance sheets.  $50,000 of new bonds were issued during 2014. What is the amount of cash flow associated with the repayment of bond liabilities?   

A. $120,000

 

B. $150,000

 

C. $30,000

 

D. Cannot be determined

 

 

69.The following information was drawn from the year-end balance sheets of White, Inc.  White, Inc., issued $30,000 in bonds during 2014. The bonds were issued at face value. All bonds were retired at face value. What is the amount of cash outflow for the payment of bond liabilities?   

A. $75,000

 

B. $25,000

 

C. $55,000

 

D. $105,000

 

 

70.The following information was drawn from the year-end balance sheets of White, Inc.  White, Inc. uses the cost method to account for treasury stock. What is the amount of cash outflows for the purchase of treasury stock?   

A. $7,500

 

B. $17,500

 

C. $25,000

 

D. None of these answers is correct.