Question : 67.              Miracle Company purchased treasury stock with a cost of : 1311961

67.              Miracle Company purchased treasury stock with a cost of $15,000 during 2013. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $866,000.  Cash flows from financing activities for 2013 total

a.$846,000 net cash inflow.

b.$861,000 net cash inflow.

c.$866,000 net cash outflow.

d.$831,000 net cash inflow.

68.              Carrot Company issued common stock for proceeds of $381,000 during 2013. The company paid dividends of $90,000 and issued a long-term note payable for $95,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $18,000. The financing section of the statement of cash flows will report net cash inflows of

a.$273,000.

b.$489,000.

c.$183,000.

d.$363,000.

69.              In Garland Company, land decreased $140,000 because of a cash sale for $140,000, the equipment account increased $40,000 as a result of a cash purchase, and Bonds Payable increased $130,000 from issuance for cash at face value. The net cash provided by investing activities is

a.$140,000.

b.$230,000.

c.$100,000.

d.$110,000.

70.              Accounts receivable arising from sales to customers amounted to $85,000 and $75,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $285,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

a.$285,000.

b.$295,000.

c.$445,000.

d.$275,000.

71.              Accounts receivable arising from sales to customers amounted to $45,000 and $50,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $160,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

                                $160,000.

                                $165,000.

                                 $205,000.

                                $155,000.

72.              Winston Company reported net income of $50,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is

a.$40,000.

b.$65,000.

c.$49,000.

d.$45,000.

73.              Blocker Company reported a net loss of $5,000 for the year ended December 31, 2013. During the year, accounts receivable increased $14,000, merchandise inventory decreased $10,000, accounts payable decreased by $20,000, and depreciation expense of $10,000 was recorded. During 2013, operating activities

a.used net cash of $19,000.

b.used net cash of $27,000.

c.provided net cash of $27,000.

d.provided net cash of $17,000.

74.              The net income reported on the income statement for the current year was $225,000.  Depreciation recorded on plant assets was $38,000. Accounts receivable and inventories increased by $2,000 and $8,000, respectively. Prepaid expenses and accounts payable decreased by $1,000 and $11,000 respectively. How much cash was provided by operating activities?

a.$205,000

b.$243,000

c.$225,000

d.$259,000

75.              The net income reported on the income statement for the current year was $240,000.  Depreciation was $50,000. Account receivable and inventories decreased by $10,000 and $30,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?

a.$301,000

b.$337,000

c.$321,000

d.$329,000

76.              If a gain of $15,000 is incurred in selling (for cash) office equipment having a book value of $100,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

a.$95,000.

b.$115,000.

c.$100,000.

d.$15,000.