106.A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses increased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $156,600.

B. $141,000.

C. $96,600.

D. $148,600.

E. $88,600.

107.A company's income statement showed the following: net income, $124,000 and depreciation expense, $30,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; and accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $118,000.

B. $159,200.

C. $123,200.

D. $148,800.

E. $178,000.

108.Use the following information and the indirect method to calculate the net cash provided or used by operating activities: 

A. $69,900.

B. $108,900.

C. $93,900.

D. $85,700.

E. $81,600.

109.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $71,000.

C. $70,000.

D. $24,000.

E. $110,000.

110.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $60,000.

C. $70,000.

D. $80,000.

E. $130,000.

111.A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:    

A. $50,000.

B. $5,000.

C. $45,000.

D. Zero. This is an operating activity.

E. Zero. This is a financing activity.

112.A machine with a cost of $130,000, accumulated depreciation of $85,000, and current year depreciation expense of $17,000 is sold for $40,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:   

A. $45,000.

B. $5,000.

C. $17,000.

D. $28,000.

E. $40,000.

113.A machine with a cost of $130,000, current year depreciation expense of $17,000 and accumulated depreciation of $85,000 is sold for $40,000 cash. The amount(s) that should be reported in the operating section of the statement of cash flows is:   

A. $17,000.

B. $4,000.

C. $57,000.

D. $21,000.

E. $22,000.

114.A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:    

A. ($3,000).

B. $60,000.

C. ($57,000).

D. $7,000.

E. ($7,000).

115.Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Addam's statement of cash flows?   

A. In operating activities as a source of funds.

B. In investing activities as a source of funds.

C. In investing activities as a use of funds.

D. In financing activities as a source of funds.

E. In financing activities as a use of funds.

106.A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses increased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $156,600.

B. $141,000.

C. $96,600.

D. $148,600.

E. $88,600.

107.A company's income statement showed the following: net income, $124,000 and depreciation expense, $30,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; and accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $118,000.

B. $159,200.

C. $123,200.

D. $148,800.

E. $178,000.

108.Use the following information and the indirect method to calculate the net cash provided or used by operating activities: 

A. $69,900.

B. $108,900.

C. $93,900.

D. $85,700.

E. $81,600.

109.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $71,000.

C. $70,000.

D. $24,000.

E. $110,000.

110.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $60,000.

C. $70,000.

D. $80,000.

E. $130,000.

111.A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:    

A. $50,000.

B. $5,000.

C. $45,000.

D. Zero. This is an operating activity.

E. Zero. This is a financing activity.

112.A machine with a cost of $130,000, accumulated depreciation of $85,000, and current year depreciation expense of $17,000 is sold for $40,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:   

A. $45,000.

B. $5,000.

C. $17,000.

D. $28,000.

E. $40,000.

113.A machine with a cost of $130,000, current year depreciation expense of $17,000 and accumulated depreciation of $85,000 is sold for $40,000 cash. The amount(s) that should be reported in the operating section of the statement of cash flows is:   

A. $17,000.

B. $4,000.

C. $57,000.

D. $21,000.

E. $22,000.

114.A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:    

A. ($3,000).

B. $60,000.

C. ($57,000).

D. $7,000.

E. ($7,000).

115.Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Addam's statement of cash flows?   

A. In operating activities as a source of funds.

B. In investing activities as a source of funds.

C. In investing activities as a use of funds.

D. In financing activities as a source of funds.

E. In financing activities as a use of funds.

106.A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses increased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $156,600.

B. $141,000.

C. $96,600.

D. $148,600.

E. $88,600.

107.A company's income statement showed the following: net income, $124,000 and depreciation expense, $30,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; and accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.    

A. $118,000.

B. $159,200.

C. $123,200.

D. $148,800.

E. $178,000.

108.Use the following information and the indirect method to calculate the net cash provided or used by operating activities: 

A. $69,900.

B. $108,900.

C. $93,900.

D. $85,700.

E. $81,600.

109.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $71,000.

C. $70,000.

D. $24,000.

E. $110,000.

110.In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 

A. $120,000.

B. $60,000.

C. $70,000.

D. $80,000.

E. $130,000.

111.A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:    

A. $50,000.

B. $5,000.

C. $45,000.

D. Zero. This is an operating activity.

E. Zero. This is a financing activity.

112.A machine with a cost of $130,000, accumulated depreciation of $85,000, and current year depreciation expense of $17,000 is sold for $40,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:   

A. $45,000.

B. $5,000.

C. $17,000.

D. $28,000.

E. $40,000.

113.A machine with a cost of $130,000, current year depreciation expense of $17,000 and accumulated depreciation of $85,000 is sold for $40,000 cash. The amount(s) that should be reported in the operating section of the statement of cash flows is:   

A. $17,000.

B. $4,000.

C. $57,000.

D. $21,000.

E. $22,000.

114.A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:    

A. ($3,000).

B. $60,000.

C. ($57,000).

D. $7,000.

E. ($7,000).

115.Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Addam's statement of cash flows?   

A. In operating activities as a source of funds.

B. In investing activities as a source of funds.

C. In investing activities as a use of funds.

D. In financing activities as a source of funds.

E. In financing activities as a use of funds.

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