Question :
73.Transactions that provide cash to the business to carry its : 1169190
73.Transactions that provide cash to the business to carry on its activities are
A. operating activities.
B. investing activities.
C. financing activities.
D. outflows or uses of cash.
74.Transactions for the acquisition or disposal of long-term assets are
A. operating activities.
B. investing activities.
C. financing activities.
D. outflows or uses of cash.
75.Polyglot Services, Inc. sold equipment that cost $45,600 for $12,450. Depreciation on the equipment from purchase to date of sale amounted to $35,000. What amount is reported in the Cash Flows from Investing Activities section of the Statement of Cash Flows?
A. $12,450
B. $0
C. $1,850
D. $10,600
76.Chattel Company sold for $7,000 equipment that originally cost $40,000 and had depreciation in the amount of $34,000 taken. What amount is reported in the Cash Flows from Financing Activities section of the Statement of Cash Flows?
A. $6,000
B. $5,000
C. $0
D. $1,000
77.Chattel Company sold for $7,000 equipment that originally cost $40,000 and had depreciation in the amount of $34,000 taken. What amount is reported in the Cash Flows from Investing Activities section of the Statement of Cash Flows?
A. $7,000
B. $6,000
C. $5,000
D. $1,000
78.Chattel Company sold for $5,000 equipment that originally cost $40,000 and had depreciation in the amount of $34,000 taken. What amount is reported in the Cash Flows from Operating Activities section of the Statement of Cash Flows?
A. $7,000
B. $6,000
C. $5,000
D. $1,000
79.Doff Manufacturing Co. sold equipment that cost $12,000 for $3,000. Depreciation of $10,000 had been taken on the equipment. How is the Cash Flows from Operating Activities affected?
A. The loss of $1,000 is added to Net Income
B. The gain of $1,000 is added to Net Income
C. The gain of $1,000 is deducted from Net Income
D. The loss of $1,000 is deducted from Net Income
80.Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A loss on sale of $1,000 was recorded. How is the Cash Flows from Operating Activities affected?
A. The loss of $1,000 is added to Net Income.
B. The loss of $1,000 is deducted from Net Income.
C. The $6,000 cash received is deducted from Net Income.
D. The $11,000 accumulated depreciation is added to Net Income.
81.Cannon Manufacturing Co. sold equipment that cost $18,000 for $6,000. A loss on sale of $1,000 was recorded. How is the Cash Flows from Investing Activities affected?
A. A cash inflow of $5,000 is recorded.
B. A cash inflow of $6,000 is recorded.
C. A cash inflow of $11,000 is recorded.
D. A cash inflow of $12,000 is recorded.
82.Eleemosynary Organization acquired land valued at $56,000 for 4,200 shares of its stock. Where on the Statement of Cash flows does this transaction activity appear?
A. Operating Activities
B. Investing Activities
C. Financing Activities
D. Disclosures
