All of the following activities are reported on the statement of cash flows except
financing activities
operating activities.
. investing activities.
marketing activities
Activities that create long-term liabilities are usually
. noncash investing and financing activities.
. investing activities
. financing activities.
operating activities
Activities affecting long-term assets are
. marketing activities.
investing activities
In 20X6, PMW Corporation borrowed $120,000, paid dividends of $35,000, issued 10,000 shares for $46 per share, purchased land for $250,000, and received dividends of $20,000. Net income was $160,000, and depreciation for the year totaled $8,000. How much should be reported as net cash provided by operating activities by the indirect method?
$205,000
$168,000
$230,000
$152,000
Activities that obtain the cash needed to launch and sustain a company are
marketing activities.
income activities.
The exchange of shares for land
would be reported as noncash investing and financing activities
would be reported as financing activities.
. would not be reported on the statement of cash flows
would be reported as investing activities.
Under the indirect method, net cash provided by operating activities would be
. $81,000
$73,000.
$79,000.
$57,000.
Net cash provided by (used for) investing activities would be
$(1,000).
$(13,000).
$1,000
$13,000.
Net cash provided by (used for) financing activities would be
$(14,000).
$(18,000).
c. $14,000.
$2,000.
The cost of land
must have been $42,000
must have been $57,000.
must have been $27,000.
cannot be determined from the data given.
Sweet Treat Ice Cream began the year with $80,000 in accounts receivable and ended the year with $60,000 in accounts receivable. If sales for the year were $700,000; the cash collected from customers during the year amounted to
$760,000
$700,000.
$720,000.
$680,000.
Nassau Farms, Ltd., made sales of $760,000 and had cost of goods sold of $410,000. Inventory decreased by $10,000 and accounts payable decreased by $12,000. Operating expenses were $180,000. How much was Nassau Farms’s net income for the year?
$172,000
$170,000
. $350,000
Use the Nassau Farms data from question 12. How much cash did Nassau Farms pay for inventory during the year?
$410,000
$400,000
$422,000
$412,000
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