Chapter 13 quiz A - $_64,000 INCREASE 4 Noncash investing...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 13 quiz A The following information relates to the Sullivan Corporation for the year ended December 31, 20x8: Clearly label the amount of each answer as an increase or a decrease. +22500 +2500 accounts rec. inc. -4750 inventory inc. -11000 prepaid exp. dec. +1500 accts. Payable inc. +7750 (sub ttl 18500) [accured liabilities inc. +94000] +40250+9750=50,000 +50,000=100,000 -40,000=60,000 +50,000=110,000 -16,000=94,000 10,000 112,500 Calculate the amount of cash flows from operating activities. $ 112,500____ INCREASE The following information relates to the Sullivan Corporation for the year ended December 31, 20x8:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Clearly label the amount of each answer as an increase or a decrease. 30,500 Calculate the amount of cash flows from investing activities. $___30,500_____________ DECREASE The following information relates to the Sullivan Corporation for the year ended December 31, 20x8:
Background image of page 2
Clearly label the amount of each answer as an increase or a decrease. Calculate the amount of cash flows from financing activities.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $___64,000___________ INCREASE 4. Noncash investing and financing transactions appear as a separate schedule on the statement of cash flows. How are cash equivalents treated on a statement of cash flows? T hey are combined with the Cash account. Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements -- Increase in Accounts Receivable -- indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following: Subtract from net income to arrive at net cash flows from operating activities. All of the following are financing activities, except the receipt of a cash dividend. Purchased land in exchange for common stock Noncash investing and financing transaction Sold preferred stock for cash. Financing activity Declared and paid a cash dividend. Financing activity...
View Full Document

{[ snackBarMessage ]}

Page1 / 4

Chapter 13 quiz A - $_64,000 INCREASE 4 Noncash investing...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online