Answered step by step
Verified Expert Solution
Question
1 Approved Answer
14-20 solve all please. 14. Interest paid is classified as an operating cash flow under: A. US GAAP but may be classified as either operating
14-20 solve all please.
14. Interest paid is classified as an operating cash flow under: A. US GAAP but may be classified as either operating or investing cash flows under IFRS. B. IFRS but may be classified as either operating or investing cash flows under US GAAP. C. US GAAP but may be classified as either operating or financing cash flows under IFRS. 15. Cash flows from taxes on income must be separately disclosed under: A. IFRS only. B. US GAAP only. c. both IFRS and US GAAP. 16. Which of the following components of the cash flow statement may be prepared under the indirect method under both IFRS and US GAAP? A. Operating B. Investing. c. Financing Assuming U.S. GAAP, use the following data to answer Questions 17 through 19. Net income $45 Depreciation 75 Taxes paid 25 Interest paid 5 Dividends paid 10 Cash received from sale of company building 40 Issuance of preferred stock 35 Repurchase of common stock 30 Purchase of machinery 20 Issuance of bonds 50 45 Debt retired through issuance of common stock 15 Paid off long-term bank borrowings Profit on sale of building 20 17. Cash flow from operations is: A. $70. B. $100 C. $120. 18. Cash flow from investing activities is: A. -$30. B. $20. C. $50. 19. Cash flow from financing activities is: A. S30 B. $55. C. $75Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started