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9) The following information was taken from the books of California Company: S Payments to vendors Cash collected on accounts receivable Collections on cash sales
9) The following information was taken from the books of California Company: S Payments to vendors Cash collected on accounts receivable Collections on cash sales Cash paid for income taxes Cash paid for machinery 46,000 95,000 27,000 4300 14,600 When preparing the statement of cash flows, what amount should be reported for net cash provided by operating activities as a result of this information? A) $71,700. B) $57,100. C) $163,700. D) $41,700. Select one: A B D 10) Assuming the direct method of preparing the statement of cash flows, how should amortization expense be reported? A) A decrease in cash flows from operating activities. B) An increase in cash flows from operating activities. C) A decrease in cash flows from investing activities. D) Not reported. Select one: A B C D 11) The following information relates to California Company for the year ending December 31, 2020: $6,000 of prepaid rent at December 31, 2019 $14,500 of prepaid rent at December 31, 2020 $22,500 of rent expense for 2020 What amount would be shown as rent paid on the statement of cash flows using the direct method? A) $14,000. C) $31,000. B) $22,500. D) None of these answer choices are correct. Select one: A B D 12) California Corporation reported the following: Cash beginning balance of $257,000 Operating cash inflow of $64,000 Investing cash outflow of $207,000 Financing cash inflow of $360,000 What was the ending cash balance? A) $40,000 B) $143,000 C) $888,000 D) $474,000
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