achivmt_test_answer13 - 9th Edition Managerial Accounting...

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9th Edition Managerial Accounting Warren/Reeve Chapter Test 13A Score % Name Course Section NOTE: Each of the 40 correct answers is assigned a weight of 2 1/2%. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY— INSTRUCTIONS: Complete each of the following statements by writing the appropriate words or amounts in the Answers column. For Answers Scoring 0. The statement that reports a firm’s major cash inflows and outflows for a period is the ......................................................................................... statement of cash flows 0. ____ 1-2. What are the two alternative methods of reporting operating activities in the statement of cash flows? 1. ................................................................................................................. 1. ____ 2. ................................................................................................................. 2. ____ 3-8. Indicate the section of the statement of cash flows (indirect or direct method) in which each of the following would appear (answer operating activities, investing activities, or financing activities): 3. Amortization of bond discount ................................................................ 3. ____ 4. Depreciation expense on equipment ...................................................... 4. ____ 5. Sale of long-term investments ................................................................ 5. ____ 6. Sale of equipment at book value ............................................................. 6. ____ 7. Redemption of bonds payable ............................................................... 7. ____ 8. Sale of patents ........................................................................................ 8. ____ 9. Cash dividends of $50,000 were declared during the year. Cash dividends payable were $14,000 and $16,000 at the beginning and end of the year, respectively. The amount of cash flows for payment of dividends during the year is .................................................................... $ 9. ____ 10. The net income from operations was $80,000 and the only revenue or expense item not affecting cash was depreciation expense of $42,000.
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