to $35,000 u Id Accounts recelvable (A/R) arising from sales to he etfect of l o
ID: 2601320 • Letter: T
Question
to $35,000 u Id Accounts recelvable (A/R) arising from sales to he etfect of l on tihe stañement of S10,000 (EI) at the begienming and end of the year, respecirveitt of otber on the income sls cash flows is (Cash Flew-OPS) B) $155,000 adjustments, tha fren operating activities to be reported on tihe a the cash flows from operating a C) 5185,000. D) $143,000 15. If a Gain of S15,000 is incurred in selling (for casb) office Equipment having a Net Book Value of $100,000, the total amount reported in the cash flowa from investanvg activities section of the statement of cash flows is (Cash Flow-INV) A) $95,000. B) $115,000 C) $100,000. D) $15,000. 16. The following data are available for Nichols Corporation Sale of L.and Sale of Equipment Issuance of Common Stock Purchase of Equipment Payment of Cash Dividends $200,000 100,000 140,000 60,000 20,000 Net cash provided by investing activities is: (Cash Flow - INV) A) $240,000. B) $260,000. C) $300,000 D) $380,000. 17. The following data are available for Cole Company Increase in Accounts Payable Increase in Bonds Payable Sale of Long Term Investments Issuance of Common Stock Payment of Cash Dividends $120,000 300,000 150,000 180,000 90,000 Net cash provided by financing activities is: (Cash Flow - FIN) A) $270,000. B) $390,000. C) $480,000. D) $510,000. Page 4Explanation / Answer
14) Answer : D) $145000
=> Net Income - increase in accounts receivables = $150000 - ($40000 - $35000) = $145000
15) Answer : B) $115000
=> total cash received of the disposal of office equipment is taken as cash receipt under Investing Activity.
16) Answer : A) $240000
=> Sale of land + sale of equipment - purchase of equipment = $200000 + $100000 - $60000 = $240000
17) Answer : B) $390000
=> Increase in Bonds payable + Issuance of common stock - payment of cash dividends = $300000 + $180000 - $90000 = $390000
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