Question :
98. The amount of cash paid by Korman Corporation in 2009 : 1229422
98. The amount of cash paid by Korman Corporation in 2009 for the purchase of marketable securities was:
A. $240,000.
B. $160,000.
C. $200,000.
D. $190,000.
99. The cash proceeds received by Korman Corporation in 2009 for the sale of marketable securities was:
A. $160,000.
B. $230,000.
C. $240,000.
D. $280,000.
100. How should the transactions involving marketable securities be classified in Korman’s statement of cash flows for 2009?
A. The purchase of marketable securities, sales of marketable securities, and receipt of dividends are all classified as investing activities.
B. The purchase and the sale of marketable securities are classified as investing activities; the receipt of dividends is classified as an operating activity.
C. The purchase of marketable securities is classified as an investing activity; the sale of marketable securities is classified as a financing activity; the receipt of dividends is classified as an operating activity.
D. The purchase and the sale of marketable securities are classified as investing activities; the receipt of dividends is classified as a financing activity.
101. Based solely on the above information, Korman’s net cash flow from investing activities for 2009 is:
A. $80,000 net cash used by investing activities.
B. $80,000 net cash provided by investing activities.
C. $120,000 net cash provided by investing activities.
D. $240,000 net cash provided by investing activities.
An analysis of Kenny Corporation’s Investment in Marketable Securities account during 2010 disclosed the following:
Kenny’s 2010 income statement included a $90,000 loss on sale of marketable securities and $65,000 dividend income from marketable securities. All payments and proceeds relating to marketable securities transactions were in cash.
102. The amount of cash paid by Kenny Corporation in 2010 for the purchase of marketable securities was:
A. $445,000.
B. $535,000.
C. $355,000.
D. $420,000.
103. The cash proceeds received by Kenny Corporation in 2010 for the sale of marketable securities was:
A. $230,000.
B. $280,000.
C. $195,000.
D. $180,000.
104. How should the transactions involving marketable securities be classified in Kenny’s statement of cash flows for 2010?
A. The purchase of marketable securities, sales of marketable securities, and receipt of dividends are all classified as investing activities.
B. The purchase and the sale of marketable securities are classified as investing activities; the receipt of dividends is classified as an operating activity.
C. The purchase of marketable securities is classified as an investing activity; the sale of marketable securities is classified as a financing activity; the receipt of dividends is classified as an operating activity.
D. The purchase and the sale of marketable securities are classified as investing activities; the receipt of dividends is classified as a financing activity.
105. Based solely on the above information, Kenny’s net cash flow from investing activities for 2010 is:
A. $215,000 net cash used by investing activities.
B. $165,000 net cash provided by investing activities.
C. $265,000 net cash used by investing activities.
D. $290,000 net cash provided by investing activities.
An analysis of changes in selected balance sheet accounts of Johnson Corporation shows the following for the current year:
Johnson’s income statement for the current year includes a $14,000 loss on disposal of plant assets. All payments and proceeds relating to purchase or sale of plant assets were in cash.
106. The amount of cash paid by Johnson to acquire plant assets during the current year was:
A. $53,000.
B. $267,000.
C. $42,000.
D. $160,000.
107. Total cash proceeds received by Johnson from sales of plant assets during the current year amounted to:
A. $13,000.
B. $104,000.
C. $195,000.
D. $41,000.
