Question : Multiple Choice Questions 25.Interest expense shown as: A. an operating activity the statement : 1254284

 

Multiple Choice Questions 

25.Interest expense is shown as:   

A. an operating activity on the statement of cash flows and a non-operating item on the income statement.

B. an operating item on the income statement and an investing activity on the statement of cash flows.

C. an operating item on the income statement and a financing activity on the statement of cash flows.

D. a financing activity on the statement of cash flows and an operating item on the income statement.

26.Cash receipts from interest on a note receivable would be classified on the statement of cash flows in the:   

A. financing activity section.

B. investing activity section.

C. operating activity section.

D. non-cash financing and investing section.

27.A cash purchase of land would appear in which of the following sections of the statement of cash flows?   

A. Cash outflow from financing activities.

B. Cash inflow and cash outflow in a separate schedule of noncash investing and financing activities.

C. Cash inflow from operating activities.

D. Cash outflow from investing activities.

28.Kramer Co. sold land that had cost $18,000 for $20,000 cash.   

A. The $2,000 gain would be subtracted from net income in the operating activities section using the indirect method.

B. $18,000 would appear as a cash inflow from investing activities.

C. $20,000 would appear as a cash inflow from investing activities.

D. A and C.

The Jarvis Company issued a $40,000 face value interest bearing note with a stated interest rate of 9%, and a one-year term. The note was issued to the National Bank on August 1, 2013.

 

29.The amount of cash inflow from financing activities on the 12/31/2013 statement of cash flows would be:   

A. $40,000.

B. $0.

C. $41,500.

D. $43,600.

30.The amount of interest expense and cash outflow shown on the 12/31/2013 financial statements would be:     

A. Option A

B. Option B

C. Option C

D. Option D

31.The amount of interest expense and total cash outflows related to the note shown on the 12/31/2014 financial statements would be:     

A. Option A

B. Option B

C. Option C

D. Option D

During 2013 the Sun Valley Company had the following transactions.1) The Accumulated Depreciation account had a beginning balance of $50,000 and an ending balance of $70,000. The increase was due to depreciation expense.2) The Long-Term Notes Payable account had a beginning balance of $80,000 and an ending balance of $30,000. The decrease was due to repayment of debt.3) The Accounts Receivable account had a beginning balance of $120,000 and an ending balance of $100,000. The difference was due to collection of revenue.4) The Equipment Account had a beginning balance of $50,000 and an ending balance of $185,000. The increase was due to the purchase of other operational assets.5) The Long Term Investments Account (Marketable Securities) had a beginning balance of $36,000 and an ending balance of $25,000. The decrease was due to the sale of investments at cost.6) The Dividends Payable account had a beginning balance of $24,000 and an ending balance of $20,000. There were $40,000 of dividends declared during the period.7) The Interest Payable account had a beginning balance of $4,500 and an ending balance of $2,500. The difference was due to the payment of interest.

 

32.What is the net cash flow from financing activities?   

A. $44,000 inflow

B. $50,000 inflow

C. $50,000 outflow

D. $94,000 outflow

33.What is the net cash flow from investing activities?   

A. $124,000 outflow

B. $124,000 inflow

C. $144,000 inflow

D. $144,000 outflow

34.What effect does the following journal entry have on the amount of cash generated by operating activities?     

A. Increases it

B. Cannot be determined from the information given

C. Has no effect

D. Decreases it

 

 

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