Question
Accounts receivable from sales transactions were $42,000 at the beginning of the year and $59,000 at the end of the year. Net income reported on
Accounts receivable from sales transactions were $42,000 at the beginning of the year and $59,000 at the end of the year. Net income reported on the income statement for the year was $75,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is
Select one:
a. $116,000
b. $58,000
c. $92,000
d. $134,000
The following information is available from the current period financial statements:
Net income | $135,000 |
Depreciation expense | 28,000 |
Increase in accounts receivable | 16,000 |
Decrease in accounts payable | 21,000 |
The net cash flow from operating activities using the indirect method is |
|
Select one:
a. $168,000
b. $126,000
c. $200,000
d. $158,000
A building with a book value of $104,000 is sold for $153,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
Select one:
a. an increase of $153,000 from investing activities
b. an increase of $104,000 from investing activities
c. an increase of $153,000 from investing activities and a deduction from net income of $49,000
d. an increase of $104,000 from investing activities and an addition to net income of $49,000
If a gain of $16,000 is realized in selling (for cash) office equipment having a book value of $64,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
Select one:
a. $48,000
b. $80,000
c. $16,000
d. $64,000
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