Practice Test Ch 16

Practice Test Ch 16 - Practice Test Chapter 16 -Acctg 202...

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Practice Test Chapter 16 -Acctg 202 1. 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 $ 5,000. B Zero. This is a financing activity. C $ 45,000. D Zero. This is an operating activity. E $ 50,000. 2. The purchase of long-term assets by issuing a note payable for the entire amount is reported on the statement of cash flows in the: A Investing activities. B Financing activities. C Operating activities. D Schedule of noncash financing and investing activities. E None of these. This is not reported on the statement of cash flows. 3. Use the following information to calculate cash received from dividends: A $29,000. B $29,800. C $30,600. D $26,400. E $32,400. 4. Which of the following items is reported on the statement of cash flows under financing activities? A
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Practice Test Ch 16 - Practice Test Chapter 16 -Acctg 202...

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