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Marks Corporation's balance sheet appears below: Marks Corporation's balance sheet appears below: Net income for the year was $77.Cash dividends were $13.The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method. Net income for the year was $77.Cash dividends were $13.The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.

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Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows, an increase in accounts receivable would be subtracted from net income.

A) True
B) False

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Degeare Corporation's balance sheet and income statement appear below: Degeare Corporation's balance sheet and income statement appear below: Cash dividends were $10.The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5.The net cash provided by (used in) operating activities for the year was: A) $73 B) $76 C) $43 D) $63 Degeare Corporation's balance sheet and income statement appear below: Cash dividends were $10.The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5.The net cash provided by (used in) operating activities for the year was: A) $73 B) $76 C) $43 D) $63 Cash dividends were $10.The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5.The net cash provided by (used in) operating activities for the year was:


A) $73
B) $76
C) $43
D) $63

E) A) and B)
F) A) and C)

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The net cash provided by (used in) financing activities for the year was:


A) $(18)
B) $5
C) $(5)
D) $8

E) None of the above
F) All of the above

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Vandy Corporation's balance sheet and income statement appear below: Vandy Corporation's balance sheet and income statement appear below: The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12.It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock. Required: Prepare a statement of cash flows for the year using the indirect method. Vandy Corporation's balance sheet and income statement appear below: The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12.It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock. Required: Prepare a statement of cash flows for the year using the indirect method. The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12.It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock. Required: Prepare a statement of cash flows for the year using the indirect method.

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Dukas Corporation's net cash provided by operating activities was $218,000; its net income was $203,000; its capital expenditures were $146,000; and its cash dividends were $49,000. Required: Determine the company's free cash flow.

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Free cash flow = Net cash prov...

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In a statement of cash flows, a change in an income taxes payable account would be recorded in the:


A) operating activities section.
B) financing activities section.
C) investing activities section.
D) stockholders' equity section.

E) A) and B)
F) A) and C)

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The net cash provided by (used in) financing activities for the year was:


A) $100,000
B) $550,000
C) $180,000
D) $680,000

E) B) and C)
F) None of the above

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The company's net cash provided by (used in) investing activities is:


A) $(20,000)
B) $(5,000)
C) $(45,000)
D) $(22,000)

E) None of the above
F) C) and D)

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Which of the following is correct regarding the operating activities section of the statement of cash flows?


A) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be subtracted from net income
B) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be subtracted from net income
C) The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be added to net income
D) The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be added to net income

E) A) and D)
F) B) and D)

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Collecting the principal on a loan to another company would be reported on the investing activities section of the statement of cash flows.

A) True
B) False

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The following transactions occurred last year at Jogger Corporation: The following transactions occurred last year at Jogger Corporation: Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be: A) $424,000 B) $(138,000) C) $(1,000) D) $7,000 Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be:


A) $424,000
B) $(138,000)
C) $(1,000)
D) $7,000

E) A) and D)
F) A) and B)

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Which of the following is correct regarding the operating activities section of the statement of cash flows?


A) The change in Accounts Payable will be added to net income; The change in Accrued Liabilities will be subtracted from net income
B) The change in Accounts Payable will be subtracted from net income; The change in Accrued Liabilities will be added to net income
C) The change in Accounts Payable will be subtracted from net income; The change in Accrued Liabilities will be subtracted from net income
D) The change in Accounts Payable will be added to net income; The change in Accrued Liabilities will be added to net income

E) B) and D)
F) C) and D)

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The company's net cash provided by (used in) operating activities is:


A) $29,000
B) $19,000
C) $27,000
D) $21,000

E) All of the above
F) None of the above

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Beltram Corporation's balance sheet and income statement appear below: Beltram Corporation's balance sheet and income statement appear below: The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year.The company declared and paid a cash dividend of $13. Required: Prepare a statement of cash flows in good form using the indirect method. Beltram Corporation's balance sheet and income statement appear below: The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year.The company declared and paid a cash dividend of $13. Required: Prepare a statement of cash flows in good form using the indirect method. The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year.The company declared and paid a cash dividend of $13. Required: Prepare a statement of cash flows in good form using the indirect method.

Correct Answer

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The net cash provided by (used in) financing activities for the year was:


A) $(22)
B) $3
C) $4
D) $(15)

E) B) and C)
F) A) and D)

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The net cash provided by (used in) investing activities for the year was:


A) $72
B) $104
C) $(104)
D) $(72)

E) None of the above
F) B) and C)

Correct Answer

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Based solely on the information above, the net cash provided by (used in) financing activities on the statement of cash flows would be:


A) $(8,000)
B) $(14,000)
C) $104,000
D) $1,286,000

E) A) and B)
F) None of the above

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The net cash provided by (used in) operating activities for the year was:


A) $60
B) $95
C) $94
D) $85

E) A) and C)
F) A) and B)

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Money received from issuing bonds payable would be included as part of a company's financing activities on the statement of cash flows.

A) True
B) False

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