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1. The Norm Compiny arialymad its accounts receivatile What is the effect on the statement of cash fows? thid of rear a. Subtract from operations b. Subtract from investine c. Subtract From findncine d. Add to operations. 2. The Dale Company analyred its prepaid insurance: What is the effect on the statement of cash flows? a. Subtract from operations b. Subtract from investing c. Subtract from Financing d. Add to operations 3. The Saturn Company sold land this year. The sales price was $50,000. The cost was $30,000. What is the effect on the statement of cash flows? a. Add to financing and add to operations b. Add to investing and subtract from operations c. Subtract from investing and add to operations d. Subtract from financing and add to investing 4. The Jupiter Company is preparing the liabilities section of its balance sheet. Here are 2 . accounts: Bonds payable $100,000 Premium on bonds payable $6,000 What is the carrying value? a. 100,000 b. 106,000 c. 94,000 d. 60,000 5. The Mercury Company issued $100,000 face value of bonds payable for $88,000. Interst of 8% is payable semiannually. Which of the following is true? a. Cash payment for interest is less than interest expense. b. Cash payment for interest is greater than interest expense. c. Cash payment for interest is equal to interest expense. d. Items a,b, and c are all true