Exam 6: Disclosure: Statement of Cash Flows

Sunshine Limited had a profit after tax of $55,000 for the financial year. Included in this profit was a depreciation expense of $7,000 and a gain on sale of investments of $1,500. Accounts receivable increased by $2,800; inventories increased by $900 and accounts payable increased by $6,300. The cash flow from operating activities amounted to:

The statement of cash flows is not used to:

XYZ Limited has the following ledger account balances: Income tax payable opening balance $47,000; closing balance $29,000. The amount of tax expense accrued at the end of the year was $22,000. The amount that has been paid during the year to the taxation authorities for incomes taxes is:

Items classified as financing activities on an entity's Statement of Cash Flows are usually associated with:

According to AASB 107/IAS 7 Statement of Cash Flows, which of the following items does not fall within the definition of cash?

All of the following items must be separately disclosed in the Statement of Cash Flows, except:

During the financial year, Henry Limited has a cost of sales amounting to $305,000. Opening balances were: inventory $42,000; accounts payable $32,000. Closing balances were: inventory $47,000; accounts payable $24,000. A discount of $2,000 for prompt payment was received. The amount of cash paid for goods purchased during the year was:

Which of the following items would be presented in a Statement of Cash Flows?

When presenting the reconciliation from profit to net cash from operating activities:

The following information relating to Equipment was extracted from the records of Bright Skies Limited: Opening balance $360 000 Proceeds from sale of equipment $6000 Closing balance $400 000 Cost of equipment sold $40 000 Cost of new equipment $80 000 Carrying amount of equipment sold $ 10 000 The total cash flows from these investing activities is determined as:

Howard Limited had profit of $33,000 during the financial year. Included in profit was a depreciation expense of $14,000. Across the year accounts receivable increased by $11,000 and accounts payable increased by $5,000. The amount of cash flow from operating activities is:

The following information is required to be disclosed in a note to the statement of cash flows, except:

Operating activities in a Statement of Cash Flows are generally associated with:

Which of the following items is classified as a 'financing activity' in the Statement of Cash Flows?

During the financial year River Gums Limited had sales of $46,000. The opening balance of accounts receivable was $11,000 and the closing balance was $14,600. Bad debts amounting to $800 were written off during the period. The cash receipts from customers during the year amounted to:

Scott Limited had a net profit after tax of $650,000 for the financial year. Included in this profit was: Depreciation expense $80 000 Gain on sale of investments $30 000 Decrease in inventories $15 000 Increase in Accounts receivable $35 000 The cash flow from operating activities during the year was:

Which of the following items is classified as part of 'investing activities' in the Statement of Cash Flows?

All of the following are limitations of the statement of cash flows, except:

Which of the following items is classified as part of 'operating activities' in the Statement of Cash Flows?

A comprehensive method that reverses or adjusts the non-cash movements of each statement of financial position account in a spreadsheet is known as the: