Chapter 13 quiz A - $___64,000___________ INCREASE 4....

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 DocumentRight 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 DocumentRight 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

Page1 / 4

Chapter 13 quiz A - $___64,000___________ INCREASE 4....

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