Question
21. MC.13-114 On the statement of cash flows, the cash flows from financing activities section would include all of the following except payments for purchase
21. MC.13-114 On the statement of cash flows, the cash flows from financing activities section would include all of the following except payments for purchase of treasury stock receipts from the sale of bonds payable payments of interest on bonds payable payments for dividends 22. MC.13-120 The following selected account balances appeared on the financial statements of the Washington Company:
Accounts receivable, Jan. 1 $13,000 Accounts receivable, Dec. 31 9,000 Accounts payable, Jan. 1 4,000 Accounts payable, Dec. 31 7,000 Merchandise inventory, Jan. 1 10,000 Merchandise inventory, Dec. 31 15,000 Sales 56,000 Cost of merchandise sold 31,000
The Washington Company uses the direct method to calculate net cash flow from operating activities.
Cash collections from customers were a. $56,000 b. $52,000 c. $60,000 d. $45,000 23. MC.13-121 The following selected account balances appeared on the financial statements of the Washington Company:
Accounts receivable, Jan. 1 $13,000 Accounts receivable, Dec. 31 9,000 Accounts payable, Jan. 1 4,000 Accounts payable, Dec. 31 7,000 Merchandise inventory, Jan. 1 10,000 Merchandise inventory, Dec. 31 15,000 Sales 56,000 Cost of merchandise sold 31,000
The Washington Company uses the direct method to calculate net cash flow from operating activities.
Cash payments for merchandise were a. $29,000 b. $33,000 c. $23,000 d. $39,000
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