Question : 81.How changes in long-term assets that result in cash flows : 1302922

 

 

81.How are changes in long-term assets that result in cash flows reported on the statement of cash flows?

A.As investing activities

B.As operating activities

C.As financing activities

D.As non-cash activities

 

82.Winslow Manor Construction provided the following information during the year:

 

Proceeds from sale of building              $65,000

Cash paid to purchase inventories              22,000

Proceeds from issuing long-term debt              17,000

Dividends paid to stockholders              12,000

Purchase of land for cash              56,000

Cash collected from customers              180,000

 

How much is the net cash provided(/used) by investing activities during the year?

A.$26,000

B.$14,000

C.$9,000

D.$14,000

 

83.How are changes in long-term liabilities that result in cash flows reported on the statement of cash flows?

A.As investing activities

B.As operating activities

C.As financing activities

D.As non-cash activities

 

84.How is cash received from using a line of credit reported on the statement of cash flows?

A.As an investing activity

B.As an operating activity

C.As a financing activity

D.As a non-cash activity

 

85.Carriage House Cleaners purchased equipment and paid dividends during the year. Where do these amounts appear on the statement of cash flows, respectively?

A.Operating activities section, financing activities section

B.Financing activities section, operating activities section

C.Investing activities section, operating activities section

D.Investing activities section, financing activities section

 

86.Selected information from the 2014 and 2013 accounting records of Hinley Roofing is provided below:

December 31,

20142013

Net cash provided (used) by operations              $38,000              $39,000

Net cash provided (used) by investing activities              (22,000)              14,000

Net cash provided (used) by financing activities              (15,000)              (26,000)

Cash balance at end of year              ?              15,000

 

At the end of 2014, how much is Riddle’s cash balance?

A.$16,000

B.$40,000

C.$28,000

D.$43,000

 

87.Which of the following activities is not reported as a financing activity on the statement of cash flows?

A.Borrowing from a bank

B.Paying interest on a long-term note payable

C.Repaying the principal on a loan

D.Issuing common stock for cash

 

88.Rodgers Chemicals sold a piece of equipment for cash and recognized a gain of $5,000. The original cost was $34,000 and the accumulated depreciation on the equipment just prior to the sale totaled $19,000. What amount will Rodgers Chemicals report in the investing activities section of its statement of cash flows?

A.$20,000

B.$54,000

C.$10,000

D.$15,000

 

89.Which of the following is reported as an operating activity?

A.Cash payments for income taxes

B.Cash payments for loan principal

C.Cash payments for dividends

D.Proceeds from the sale of a plant asset

 

90.Which of the following is reported as an investing activity?

A.Depreciation on plant assets

B.Cash payments to acquire new equipment

C.Cash received for the sale of stock to investors

D.Interest received on a money market bank account

 

 

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