SOL_Practice_Quiz_Prob

SOL_Practice_Quiz_Prob - 1. The following information is...

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1. The following information is available from the current period financial statements: 249
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Chapter 16—Statement of Cash Flows 250 Net income $140,000 Depreciation expense 28,000 Increase in accounts receivable 16,000
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Chapter 16—Statement of Cash Flows 251 Decrease in accounts payable 21,000
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Chapter 16—Statement of Cash Flows 252 The net cash flow from operating activities using the indirect method is
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Chapter 16—Statement of Cash Flows 253 a. $131,000 b. $163,000 c. $107,000
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Chapter 16—Statement of Cash Flows 254 d. $205,000
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Chapter 16—Statement of Cash Flows 255 2. If a gain of $9,000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
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Chapter 16—Statement of Cash Flows 256 a. $46,000 b. $9,000 c. $55,000
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Chapter 16—Statement of Cash Flows 257 d. $64,000
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Chapter 16—Statement of Cash Flows 258
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This note was uploaded on 05/08/2011 for the course ACCT 2301 taught by Professor Moore,j during the Spring '08 term at HCCS.

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SOL_Practice_Quiz_Prob - 1. The following information is...

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