1.Wilton Company purchased treasury stock with a cost of $17,000 during 2013. During the year, the company paid dividends of $31,000 and issued bonds payable for proceeds of $832,000. Cash flows from financing activities for 2013 total

Select one:

A. $784,000 net cash inflow.

B. $832,000 net cash outflow.

C. $801,000 net cash inflow.

D. $818,000 net cash inflow.

2.During the year, Salaries Payable decreased by $3,000. If Salary Expense amounted to $170,000 for the year, the cash paid to employees (including deductions from gross pay) is

Select one:

A. $170,000.

B. $176,000.

C. $173,000.

D. $167,000.

3.Bent Company had credit sales of $618,000. The beginning accounts receivable balance was $34,000 and the ending accounts receivable balance was $120,000. What were the cash collections from customers during the period?

Select one:

A. $618,000

B. $532,000

C. $704,000

D. $652,000

4.Gentry Company issued common stock for proceeds of $194,000 during 2013. The company paid dividends of $30,000 and issued a long-term note payable for $58,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $6,000. The financing section of the statement of cash flows will report net cash inflows of

Select one:

A. $164,000.

B. $158,000.

C. $218,000.

D. $188,000.

5.The following data are available for Simpson Corporation.

Net income	$300,000
Depreciation expense	60,000
Dividends paid	90,000
Gain on sale of land	15,000
Decrease in accounts receivable	30,000
Decrease in accounts payable	45,000

Net cash provided by operating activities is:

Select one:

A. $420,000.

B. $360,000.

C. $330,000.

D. $240,000.

6.Which of the following would not appear in the operating activities section of a statement of cash flows prepared under the direct method?

Select one:

A. Gain on sale of equipment

B. Cash paid to employees

C. Cash receipts from customers

D. Cash paid for income taxes

7.In the Gannett Company, the beginning and ending balances in Land were $198,000 and $240,000 respectively. During the year, land costing $50,000 was sold for $50,000 cash, and land costing $92,000 was purchased for cash. The entries in the reconciling columns of the worksheet will include a:

Select one:

A. net debit to Land $42,000 and a credit to Purchase of Land $42,000 under investing activities.

B. credit to Land $50,000 and a debit to Sale of Land $50,000 under investing activities.

C. credit to Land $50,000 and a debit to Sale of Land $50,000 under financing activities.

D. debit to Land $92,000 and a credit to Purchase of Land $92,000 under financing activities

8Accounts receivable arising from sales to customers amounted to $25,000 and $43,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $148,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Select one:

A. $148,000.

B. $173,000.

C. $130,000.

D. $166,000.

9.Tatum Company has other operating expenses of $119,000. There has been a decrease in prepaid expenses of $6,000 during the year, and accrued liabilities are $8,000 larger than in the prior period. What were Tatum's cash payments for operating expenses?

Select one:

A. $117,000

B. $119,000

C. $105,000

D. $121,000

10.Gary Company reports a $28,000 increase in inventory and a $3,000 decrease in accounts payable during the year. Cost of Goods Sold for the year was $144,000. Using the direct method of reporting cash flows from operating activities, cash payments made to suppliers were

Select one:

A. $144,000.

B. $175,000.

C. $119,000.

D. $169,000.

11.Which of the following adjustments to convert net income to net cash provided by operating activities is not added to net income?

Select one:

A. Depletion Expense

B. Gain on Sale of Equipment

C. Patent Amortization Expense

D. Depreciation Expense

.