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Ch 10-11

Authored by Jessica Kong

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Ch 10-11
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8 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is added to net income as an adjustment under the indirect method of preparing the statement of cash flows?

Inventory increase

Gain on the sale of land

Accounts receivable increase

Salaries payable increase

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Assume net income was $210,000, depreciation expense was $6300, accounts receivable increased by

$8500, and accounts payable decreased by $2800. The amount of net cash flows from operating

activities is:

203,700

205,000

216,300

222,000

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Using the information below, calculate net cash flows from operating activities:

Net income: 120,000

Receive cash from issuing stock : 80,000

Pay cash for equipment: 90,000

Increase in accounts receivable: 10,000

Depreciation expense: 30,000

Increase in accounts payable: 5,000

Receive cash from sale of land: 75,000

Pay cash dividends: 20,000

115,000

145,000

155,000

190,000

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Using the information below, calculate net cash flows from investing activities:

Net income: 120,000

Receive cash from issuing stock : 80,000

Pay cash for equipment: 90,000

Increase in accounts receivable: 10,000

Depreciation expense: 30,000

Increase in accounts payable: 5,000

Receive cash from sale of land: 75,000

Pay cash dividends: 20,000

-165,000

15,000

60,000

-15,000

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Using the information below, calculate net cash flows from financing activities:

Net income: 120,000

Receive cash from issuing stock : 80,000

Pay cash for equipment: 90,000

Increase in accounts receivable: 10,000

Depreciation expense: 30,000

Increase in accounts payable: 5,000

Receive cash from sale of land: 75,000

Pay cash dividends: 20,000

60,000

-15,000

100,000

80,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When treasury stock is purchased, what is the effect on total shareholders' equity?

Decrease.

Cannot be determined from the given information.

Increase.

No effect.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Suppose a company declares a dividend of $0.50 per share. At the time of declaration, the company has 100,000 shares issued and 90,000 shares outstanding. On the declaration date, Dividends would be recorded for

$50,000.

$45,000.

$0.

$95,000.

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