Question : 111. If accounts payable have increased during a period A. revenues an accrual : 1239348

 

 

111. If accounts payable have increased during a period A. revenues on an accrual basis are less than revenues on a cash basis.B. expenses on an accrual basis are less than expenses on a cash basis.C. expenses on an accrual basis are the same as expenses on a cash basis.D. expenses on an accrual basis are greater than expenses on a cash basis.

 

112. In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is A. added to net income.B. deducted from net income.C. ignored because it does not affect cash.D. reported supplementally as a non-cash investing and financing activity

 

113. Rogers Company reported net income of $35,000 for the year.  During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded.  Net cash provided by operating activities for the year is A. $53,000.B. $47,000.C. $33,000D. $37,000.

 

114. On the statement of cash flows, the cash flows from operating activities section would include  A. receipts from the issuance of capital stockB. payment for interest on short-term notes payableC. payments for the purchase of investmentsD. payments for cash dividends

 

115. The cost of merchandise sold during the year was $50,000.  Merchandise inventories were $12,500 and $10,500 at the beginning and end of the year, respectively.  Accounts payable were $6,000 and $5,000 at the beginning and end of the year, respectively.  Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total  A. $49,000B. $47,000C. $51,000D. $53,000

 

116. Sales for the year were $600,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year.  Cash received from customers to be reported on the cash flow statement using the direct method is  A. $700,000B. $600,000C. $580,000D. $620,000

 

117. Operating expenses other than depreciation for the year were $400,000.  Prepaid expenses increased by $17,000 and accrued expenses decreased by $30,000 during the year.  Cash payments for operating expenses to be reported on the cash flow statement using the direct method would be  A. $353,000B. $413,000C. $447,000D. $383,000

 

118. The following selected account balances appeared on the financial statements of the Washington Company: 

Accounts Receivable, Jan. 1

$13,000

Accounts Receivable, Dec. 31

9,000

Accounts Payable, Jan 1

4,000

Accounts payable Dec. 31

7,000

Merchandise Inventory, Jan 1

10,000

Merchandise Inventory, Dec 31

15,000

Sales

56,000

Cost of Goods Sold

31,000

 

 

The Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers are A. $56,000B. $52,000C. $60,000D. $45,000

 

119. The following selected account balances appeared on the financial statements of the Washington Company: 

Accounts Receivable, Jan. 1

$13,000

Accounts Receivable, Dec. 31

9,000

Accounts Payable, Jan 1

4,000

Accounts payable Dec. 31

7,000

Merchandise Inventory, Jan 1

10,000

Merchandise Inventory, Dec 31

15,000

Sales

56,000

Cost of Goods Sold

31,000

 

 

The Washington Company uses the direct method to calculate net cash flow from operating activities. Cash paid to suppliers is A. $39,000B. $33,000C. $29,000D. $23,000

 

120. Income tax was $175,000 for the year.  Income tax payable was $30,000 and $40,000 at the beginning and end of the year.  Cash payments for income tax reported on the cash flow statement using the direct method is  A. $175,000B. $165,000C. $205,000D. $215,000

 

 

 

121. Free cash flow is  A. all cash in the bankB. cash from operationsC. cash from financing, less cash used to purchase fixed assets to maintain productive capacity and cash used for dividendsD. cash flow from operations, less cash used to purchase fixed assets to maintain productive capacity and cash used for dividends

 

122. Free cash flow is cash from operations, less cash for  A. dividends and cash for fixed assets needed to maintain productivityB. dividends and cash to redeem bonds payableC. fixed assets needed to maintain productivityD. fixed assets needed to maintain productivity, and cash to redeem bonds payable

 

123. The cost of merchandise sold during the year was $45,000.  Merchandise inventories were $13,500 and $10,500 at the beginning and end of the year, respectively.  Accounts payable were $7,000 and $5,000 at the beginning and end of the year, respectively.  Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total  A. $46,000B. $44,000C. $50,000D. $40,000

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more