21) Rocket, Corporation reports a $17,000 increase in Inventory and a $30,000 increase in Accounts Payable for the year. If the cost of purchases totaled $400,000 for the year, the cash paid to Rocket's suppliers is:

A) $447,000.

B) $430,000.

C) $370,000.

D) $353,000.

22) Under the direct method of preparing the statement of cash flows, which statement is correct regarding the method of computing interest revenue?

A) Sales plus a decrease in interest receivable

B) Interest revenue plus a decrease in interest receivable

C) Interest revenue plus an increase in interest receivable

D) Interest revenue less a decrease in interest receivable

23) During the year, Engine Engineering Corporation has operating expenses of $30,000. There was an increase in prepaid expenses of $5,000 and an increase in accrued liabilities of $7,000. What were Engine's cash payments for operating expenses?

A) $42,000

B) $32,000

C) $28,000

D) $18,000

24) The direct method of preparing the statement of cash flows is preferred primarily because of the way it reports:

A) operating activities.

B) investing activities.

C) financing activities.

D) noncash activities.

25) Which of the following would NOT appear in the operating activities section of a statement of cash flows using the direct method?

A) Cash paid for income taxes

B) Interest received on notes receivable

C) Gain on sale of equipment

D) Payments to suppliers

26) New Street Corporation had accounts receivable of $110,000 at the beginning of the year and $125,000 at the end of the year. Sales on account for the year amounted to $575,000. The amount to be reported on the statement of cash flows under the operating activities is:

A) $575,000.

B) $15,000.

C) $560,000.

D) $465,000.

27) Plymouth Corporation reported an increase in inventory of $75,000. The cost of goods sold for the year was $180,000. There was also a $7,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $262,000

B) $248,000

C) $255,000

D) $187,000

28) Plymouth Corporation reported a decrease in inventory of $15,000. The cost of goods sold for the year was $180,000. There was also a $5,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $202,000

B) $188,000

C) $172,000

D) $158,000

29) Outlaw, Inc. began the year with $279,000 in Accounts Receivable and ended the year with $232,700 in Accounts Receivable. Sales for the year were $3,870,000. The cash collected from customers during the year amounted to:

A) $4,149,000.

B) $4,102,700.

C) $3,916,300.

D) $3,823,700.

30) XYZ Corporation reported a $35,000 increase in inventory and a $7,000 decrease in accounts payable during the year. XYZ's cost of goods sold amounted to $185,000. Under the direct method of reporting cash flows from operating activities, cash payments to suppliers amounted to:

A) $227,000.

B) $213,000.

C) $157,000.

D) $143,000.

31) Salem Corporations income statement showed cost of goods sold of $115,000 and operating expenses of $20,000. The inventory account decreased $7,000, accounts payable increased $5,000, prepaid expenses increased $3,000, and accrued expenses payable decreased $2,000.

1.Cash payments for operating expenses

2.Cash payments to suppliers

21) Rocket, Corporation reports a $17,000 increase in Inventory and a $30,000 increase in Accounts Payable for the year. If the cost of purchases totaled $400,000 for the year, the cash paid to Rocket's suppliers is:

A) $447,000.

B) $430,000.

C) $370,000.

D) $353,000.

22) Under the direct method of preparing the statement of cash flows, which statement is correct regarding the method of computing interest revenue?

A) Sales plus a decrease in interest receivable

B) Interest revenue plus a decrease in interest receivable

C) Interest revenue plus an increase in interest receivable

D) Interest revenue less a decrease in interest receivable

23) During the year, Engine Engineering Corporation has operating expenses of $30,000. There was an increase in prepaid expenses of $5,000 and an increase in accrued liabilities of $7,000. What were Engine's cash payments for operating expenses?

A) $42,000

B) $32,000

C) $28,000

D) $18,000

24) The direct method of preparing the statement of cash flows is preferred primarily because of the way it reports:

A) operating activities.

B) investing activities.

C) financing activities.

D) noncash activities.

25) Which of the following would NOT appear in the operating activities section of a statement of cash flows using the direct method?

A) Cash paid for income taxes

B) Interest received on notes receivable

C) Gain on sale of equipment

D) Payments to suppliers

26) New Street Corporation had accounts receivable of $110,000 at the beginning of the year and $125,000 at the end of the year. Sales on account for the year amounted to $575,000. The amount to be reported on the statement of cash flows under the operating activities is:

A) $575,000.

B) $15,000.

C) $560,000.

D) $465,000.

27) Plymouth Corporation reported an increase in inventory of $75,000. The cost of goods sold for the year was $180,000. There was also a $7,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $262,000

B) $248,000

C) $255,000

D) $187,000

28) Plymouth Corporation reported a decrease in inventory of $15,000. The cost of goods sold for the year was $180,000. There was also a $5,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $202,000

B) $188,000

C) $172,000

D) $158,000

29) Outlaw, Inc. began the year with $279,000 in Accounts Receivable and ended the year with $232,700 in Accounts Receivable. Sales for the year were $3,870,000. The cash collected from customers during the year amounted to:

A) $4,149,000.

B) $4,102,700.

C) $3,916,300.

D) $3,823,700.

30) XYZ Corporation reported a $35,000 increase in inventory and a $7,000 decrease in accounts payable during the year. XYZ's cost of goods sold amounted to $185,000. Under the direct method of reporting cash flows from operating activities, cash payments to suppliers amounted to:

A) $227,000.

B) $213,000.

C) $157,000.

D) $143,000.

31) Salem Corporations income statement showed cost of goods sold of $115,000 and operating expenses of $20,000. The inventory account decreased $7,000, accounts payable increased $5,000, prepaid expenses increased $3,000, and accrued expenses payable decreased $2,000.

1.Cash payments for operating expenses

2.Cash payments to suppliers

21) Rocket, Corporation reports a $17,000 increase in Inventory and a $30,000 increase in Accounts Payable for the year. If the cost of purchases totaled $400,000 for the year, the cash paid to Rocket's suppliers is:

A) $447,000.

B) $430,000.

C) $370,000.

D) $353,000.

22) Under the direct method of preparing the statement of cash flows, which statement is correct regarding the method of computing interest revenue?

A) Sales plus a decrease in interest receivable

B) Interest revenue plus a decrease in interest receivable

C) Interest revenue plus an increase in interest receivable

D) Interest revenue less a decrease in interest receivable

23) During the year, Engine Engineering Corporation has operating expenses of $30,000. There was an increase in prepaid expenses of $5,000 and an increase in accrued liabilities of $7,000. What were Engine's cash payments for operating expenses?

A) $42,000

B) $32,000

C) $28,000

D) $18,000

24) The direct method of preparing the statement of cash flows is preferred primarily because of the way it reports:

A) operating activities.

B) investing activities.

C) financing activities.

D) noncash activities.

25) Which of the following would NOT appear in the operating activities section of a statement of cash flows using the direct method?

A) Cash paid for income taxes

B) Interest received on notes receivable

C) Gain on sale of equipment

D) Payments to suppliers

26) New Street Corporation had accounts receivable of $110,000 at the beginning of the year and $125,000 at the end of the year. Sales on account for the year amounted to $575,000. The amount to be reported on the statement of cash flows under the operating activities is:

A) $575,000.

B) $15,000.

C) $560,000.

D) $465,000.

27) Plymouth Corporation reported an increase in inventory of $75,000. The cost of goods sold for the year was $180,000. There was also a $7,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $262,000

B) $248,000

C) $255,000

D) $187,000

28) Plymouth Corporation reported a decrease in inventory of $15,000. The cost of goods sold for the year was $180,000. There was also a $5,000 decrease in accounts payable from the beginning of the year to the end of the year. What were Plymouth's cash payments to suppliers?

A) $202,000

B) $188,000

C) $172,000

D) $158,000

29) Outlaw, Inc. began the year with $279,000 in Accounts Receivable and ended the year with $232,700 in Accounts Receivable. Sales for the year were $3,870,000. The cash collected from customers during the year amounted to:

A) $4,149,000.

B) $4,102,700.

C) $3,916,300.

D) $3,823,700.

30) XYZ Corporation reported a $35,000 increase in inventory and a $7,000 decrease in accounts payable during the year. XYZ's cost of goods sold amounted to $185,000. Under the direct method of reporting cash flows from operating activities, cash payments to suppliers amounted to:

A) $227,000.

B) $213,000.

C) $157,000.

D) $143,000.

31) Salem Corporations income statement showed cost of goods sold of $115,000 and operating expenses of $20,000. The inventory account decreased $7,000, accounts payable increased $5,000, prepaid expenses increased $3,000, and accrued expenses payable decreased $2,000.

1.Cash payments for operating expenses

2.Cash payments to suppliers

They have a magnificent team. These people are always kind and willing to listen to your concerns or issues. Better yet, your assignment is always ready before the time, they usually send you a draft to double-check before they finalize your paper.

Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.

The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.

My third using this writer and absolutely amazing work! Very punctual and very understanding.

Outstanding job in writing my paper. I am always thrill to receive a well written paper that follows the instructions and the thorough details put into my paper. The quality of this paper is beyond awesome. Thank you so much.

I absolutely love this writer! He/she always cranks out a fabulous paper and follows the assignment guidelines/instructions perfectly. Thanks again for always providing such quality work!!!

It took some time to achieve the product I was looking for, but we eventually got there. I do feel like a lot of hard work was put into this, and it even exceeded the page requirement. I'm pretty pleased overall. I give my thanks.

Outstanding work! This writer followed every instruction and my paper came back with an A! I recommend to anyone needing help! Thank you again ❤️

Outstanding job in writing my paper. I am always thrill to receive a well written paper that follows the instructions and the thorough details put into my paper. The quality of this paper is beyond awesome. Thank you so much.

Made 100% on both the outline and the paper. Quick turnaround time and my writer responded within 30 min or less. Any edits my instructor needed, my writer was patient and worked diligently to accomplish the task. Would recommend my writer to anyone!

You are making my life so much easier! I am a single mom that works and goes to school. You guys are helping me with my projects so I can have more free time with my son.

I was sure it can fit in a single page but the next time I will add one more page because I am impressed with your professionalism and quality. Will use many more times till I graduate.

Simple registration and quality services. I just ordered one paper, and it was good enough to pass the exam. That is what I need the most. Good job.

I couldn’t finish my freaking essay, and I was very desperate. A friend of mine sent me a link, and that is how I found out about you guys. Thank you for professional tips and editing. Now, I understand how to write it properly.

I’m so grateful to you since you managed to complete my term paper in one day! You are definitely the best company ever!

I am sure on your ability to provide any type of paper I will order. I wish I could develop that skill your writers have to be able to have a flow of ideas and excellent sequencing of thoughts in writing.

I ordered a thesis paper and was satisfied. All the guys were polite and highly professional, even when I wrote to them several times per day. Thanks for your passion!

I turned to the service twice, and my papers always were beyond the expectations. To tell the truth, I was ready to find some grammar errors or something like that. However, everything was neat and tidy.

My friend recommended Doctor My Essay to me. It is convenient! Now we both turn to the service periodically coz wanna save some time and use it more effectively. I know that while I’m developing my startup, an expert is working on paper. Time management in work!

I write all paper works by myself but have some problems with literacy. Actually, I have enormous problems because English is not my native language. However, with proofreading from Doctor My Essay, I can relax and don’t be ashamed of mistakes.

Your ability to write concisely is a finding. The paper has a solid argument. It’s clear that the writer understood central claim about the topic. He also presented original ideas to consider.

That paper got the highest grade in my class and the professor thinks I’m the smartest student. Lol.

I was convinced that paper writing services are the fiction for naive students. But when it came to my research paper that was to be composed in 72 hours, I had no other options. I made the right choice when I ordered it from you!

I was also satisfied with the service. Usually, I write everything by myself, but this time ( I have no idea how it happens!) I missed the deadline. My writer was very responsible, wrote the essay quickly, and kept the instructions. Nice to know that such experts exist!

It is really affordable! The prices start from 9$, which is an excellent proposal on the market. Recently I worked with another service that took much more money and provided lower quality papers.

I am absolutely satisfied. I am first timer here. Revision was made quickly, and the author met my expectations. Thanks a lot. Paper is phenomenal.

Having heard a lot of negative reviews about such services, I was a bit skeptical. However, our cooperation with Doctor My Essay was without pitfalls. I made two comments about the final work, and they re-wrote some parts very promptly. I am satisfied and will turn to them in the future.

It was my first experience in online ordering, and I was a bit nervous. However, this was for nothing. I’ve got a high mark!

I understand that buying essays is a doubtful thing. You don’t put effort, don’t represent your ideas… However, I don’t perceive Doctor My Essay as a standard service. They don’t sell papers. They share high expertise!

According to my previous experience, this service is really the best. They support the client and have competitive writers. I give them a perfect score!

Nice service! It is cool that you can use the calculator on the main page and understand the price policy. For me, it is a huge plus!

Thanks to God I found this service! If I didn’t send my research to the teacher on time, he would eat me. I tell you! However, with doctor my essay service, I met the deadline, and I am still alive.

Your service is excellent! Convenient and not expensive. Thanks for that!

If you have problems with time management, just like me, you need to cooperate with Doctor My Essay. Once you registered and made the order, you understand how easier it makes your life! Everything is online: ordering, communication… You can control the process everywhere and be sure that an expert will provide a high-level paper.