7) Analysis reveals that a company had a net decrease in cash of $5,000 for the current year. Net cash provided by operating activities was $19,000; net cash used in investing activities was $11,000 and net cash used in financing activities was $13,000. If the year-end cash balance is $26,000, the beginning cash balance was:

A) $45,000

B) $7,000

C) $21,000

D) $ 31,000

E) $12,0000

8) Sebring Company reports depreciation expense of $56,000 for Year 2. Also, equipment costing $189,000 was sold for its book value in Year 2. The following selected information is available for Sebring Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31 Year 2 Year 1 Equipment $ 690,000 $ 879,000 Accumulated Depreciation-Equipment 493,000 580,000

A) $87,000

B) $43,500

C) $102,000

D) $46,000

E) $56,000

9) Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Net income $ 13,700 Depreciation expense 13,400 Payment on mortgage payable 16,400 Gain on sale of land 6,900 Increase in merchandise inventory 3,450 Increase in accounts payable 7,550 Proceeds from sale of land 8,700

A) $15,600

B) $16,600

C) $38,100

D) $24,300

E) $ 31,200

10) Woodlawn Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year $ 248,000 Cash dividends declared for the year 53,750 Proceeds from the sale of equipment 91,600 Gain on the sale of equipment 4,950 Cash dividends payable at the beginning of the year 23,650 Cash dividends payable at the end of the year 31,500 Net income for the year 118,250

The amount of cash paid for dividends was:

A) $63,100

B) $64,500

C) $53, 750

D) $45,900

E) $55,150