Question : Fill in the Blank Questions 21. The purpose of the statement of : 1197720

 

Fill in the Blank Questions 

21. The purpose of the statement of ____________________ is to report the cash balance at the beginning and end of the fiscal period and to show the sources and uses of cash during the period. ________________________________________

 

22. On the statement of cash flows, cash and cash ____________________ consist of currency, bank accounts, and short-term, highly liquid investments. ________________________________________

 

23. Interest expense is treated as an outflow of cash that results from a(n) ____________________ activity. ________________________________________

 

24. Cash flows from ____________________ activities are the result of routine business transactions such as buying and selling merchandise. ________________________________________

 

25. On the statement of cash flows, it is necessary to reconcile the ____________________ with the net cash provided by operating activities. ________________________________________

 

26. Net income must be adjusted for changes in ____________________ assets and liabilities, such as accounts receivable and accounts payable, when determining the net cash provided by operating activities. ________________________________________

 

27. A gain on the sale of equipment is reported in the ____________________ activities section of the statement of cash flows. ________________________________________

 

28. In the ____________________ activities section of the statement of cash flows, net income is adjusted for the amortization of the premium on bonds payable. ________________________________________

 

29. Purchases and sales of land, buildings, and equipment for cash are shown as ____________________ activities on the statement of cash flows. ________________________________________

 

30. If a corporation issued stock for $70,000 in cash, received $10,000 in cash from a long-term loan, and paid cash dividends totaling $20,000, the net cash provided by its financing activities would be ___________________. ________________________________________

 

 

 

31. Issuing stock for cash and paying dividends in cash would be classified as ____________________ activities on the statement of cash flows. ________________________________________

 

32. The payment of maturing bonds would be treated as a cash outflow in the ____________________ activities section of the statement of cash flows. ________________________________________

 

33. The purchase of treasury stock is treated as a cash outflow in the ____________________ activities section of the statement of cash flows. ________________________________________

 

34. When the ____________________ method of preparing the statement of cash flows is used, the interest and income taxes paid during the period are disclosed in notes accompanying the statement. ________________________________________

 

35. The statement of cash flows assumes that the ____________________ basis of accounting is used when recording transactions and preparing the balance sheet and income statement. ________________________________________

 

 

 

 

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