Seved The statement of cash flows is Multiple Choice Another name for the statement of financial position A financial statement that presents information about chenges in equity during a period A financial statement that reports the cash anflows and cash outfiows for an accounting period, and that ciassiles those cash lows as operating activities, investing activities, or financing activities A fnancial statement thet ists the types and amounts of assets, iabilities, and equity of a business on a specific date A financial statement that ists the types and amounts of the revenues and expenses of a business for an accounting period In preparing Marjorie Company's statement of cash flows for the most recent year, the following information is available Purchase of equipment Proceeds from the sale of equipment Purchase of land $260,000 87,000 91, 000 Net cash flows from investing activities for the year were Multiple Choice $438.000 of net cash used $438000 of net cash provided $264 000 of net cash used. $351,000 of net cash used $264,000 of net cash provided. The direct method of reporting operating cash flows: Multiple Choice Is recommended but not required by the FASB. Must be used by all companies. Is used by most companies Is considered supplementary disclosure. Is not recommended by the FASB, but is commonly used. Accounting standards Multiple Choice Alow conipanies to omit the statement of cash flows from a complete set of financial statements if cash is an insignificant asset Require that companies omit the statement of cash ows from a complete set of financial statements if the company has no investing activities Require that companies include a statement of cash flows in a complete set of financial statements Allow companies to include the statement of cash lows in a complebe set of financial statements if the cash balance makes up more than 50 % of the current assets Alow companies to onit the statement of cash flows from a complete set of financial statements if the company has no financino art The statement of cash flows cannot help address questions such as Multiple Choice How is the increase in investments financed? What is the source of cash for new plant assets? How much cash is generated from or used in operations? How much of the company's revenues have been retained as profit? Why is cash flow from operations different from income? Help Srve &Exit A machine with a cost of $143.000 and accumulated depreciation of $91,500 is sold for $63,000 cash The amount that should be reported in the operating activities section reported under the direct method is Muple Choice s63000 $11,500 $51500 Zere This is an ineng aivity Zere This is a ficancing activity A company reported that its bonds with a par value of $50,000 and a carying value of $60,500 are retired for $64,200 cash, resulting in a loss of $3700 The amount to be reported under cash flows from financing activites is Munple Choice s0500 00300 sOUo0 S542003 ssos0o 1 ! ! ! Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income Depreciation expense Gain on sale of land Increase in merchandise inventory Increase in accounts payable $86, 700 13, 400 6, 900 3, 450 7,550 Multiple Choice $38.100 $15.600 S16.G00 $31,200 S07.300 Retained earnings balance at the beginning of $129, 500 the year cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the 49,500 84, 500 7,700 21, 500 year cash dividends payable at the end of the year 24, 200 Net income for the year 95, 500 The amount of cash dividends paid during the year would be: Multiple Choice $255,000 $260,300 $283.000 $181,000 $46,800. In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was Accounts payable decreased by 22,500 ACCounts receivable increased $56, 500 29, 500 by Inventories increased by cash dividends paid were Depreciation expens was 9,500 14,900 24, 500 Net cash provided by operating activities was: Multiple Choice $73,600 $19,500 $133.500 $48.500 $34.500 Standards for comparisons in financial statement analysis do not include: Multiple Choice Intra-company standards Competitors' standards Industry standards Management standards Guidelines (rules of thumb). Net income divided by net sales is the: Multiple Choice Return on total assets Profit margin. Current ratio. Total asset turnover. Days sales in inventory. Sed The market price of Horokhiv Corporation's common stock at the start of 201% was $4750 and it declared and paid cash dividends of $3 28 per share The Dividend yield ratio is Mutiple Choice 14.5% 74% 65% 44 8% Powers Company reported Net sales of $1.200,000 and Accounts Receivable, net of $78,500. The Day's sales uncollected (rounded to whole days) is Multiple Choice 24 days. 15 days 4 days 56 days 4 days External users of financial information: Multiple Choice Are those individuals involved in managing and operating the company Include internal auditors and consultants. Are not directly involved in operating the company Make strategic decisions for a company Make operating decisions for a company Desjardin Landscaping's income statement reports net income of $74,300, which inclades deductions for interest expense of $1000 and income taxes of $33900 ts times interest eamed is Mutple Choce 78 mes 41sme 68 smes 015sm A corporation reported cash of $28,400 and total assets of $468,000 on its balance sheet. Its common-size percent for cash equals Multiple Choice 16.48% 6070 % 100.00% 607% 1648% Jones Corp. reported current assets of $200,000 and current liabilities of $140,500 on its most recent balance sheet. The working capital is Multiple Choice 142% 70% ($50,500) $59.500 42%