Question : 81.Refer to the information above. The amount of cash paid : 1237492

 

 

81.Refer to the information above. The amount of cash paid by Korman Corporation in 2015 for the purchase of marketable securities was:   

A. $240,000.

 

B. $160,000.

 

C. $200,000.

 

D. $190,000.

 

 

 

 

82.Refer to the information above. The cash proceeds received by Korman Corporation in 2015 for the sale of marketable securities was:   

A. $160,000.

 

B. $230,000.

 

C. $240,000.

 

D. $280,000.

$240,000 + $40,000 (Gain) = $280,000

 

 

 

83.Refer to the information above. How should the transactions involving marketable securities be classified in Korman’s statement of cash flows for 2015?   

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.

 

 

 

 

84.Refer to the information above. Based solely on the above information, Korman’s net cash flow from investing activities for 2015 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.

$280,000 – $160,000 = $120,000

 

 

 

The financial statements of York, Inc., provide the following information for the current year: 

 

85.Refer to the information above. Compute the amount of cash received from customers during the current year.   

A. $1,548,750.

 

B. $1,564,500.

 

C. $1,533,000.

 

D. $1,806,000.

$1,548,750 – ($136,500 – $120,750) = $1,533,000

 

 

 

86.Refer to the information above. Compute the amount of cash payments for purchases of merchandise during the current year.   

A. $813,750.

 

B. $811,125.

 

C. $819,000.

 

D. $1,078,875.

$813,750 + ($131,250 – $126,000) – ($118,650 – $110,775) = $811,125

 

 

 

87.Refer to the information above. Compute the amount of cash payments for operating expenses.   

A. $138,600.

 

B. $141,750.

 

C. $189,000.

 

D. $174,825.

$183,750 – $47,250 + ($33,600 – $31,500) + ($36,225 – $33,075) = $141,750

 

 

 

88.Refer to the information above. Net cash flow from operating activities for the current year is:   

A. $595,875.

 

B. $596,400.

 

C. $556,500.

 

D. $580,125.

$1,533,000 – $811,125 – $141,750 = $580,125

 

 

 

An analysis of Kenny Corporation’s Investment in Marketable Securities account during 2015 disclosed the following:  Kenny’s 2015 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.

 

89.Refer to the information above. The amount of cash paid by Kenny Corporation in 2015 for the purchase of marketable securities was:   

A. $445,000.

 

B. $535,000.

 

C. $355,000.

 

D. $420,000.

 

 

 

 

90.Refer to the information above. The cash proceeds received by Kenny Corporation in 2015 for the sale of marketable securities was:   

A. $230,000.

 

B. $280,000.

 

C. $195,000.

 

D. $180,000.

$270,000 – $90,000 = 180,000