Exam 21: Statement of Cash Flows Revisited

Aboard Company began the current year with the following: During the current year,the following events occurred: At the end of the current year,Aboard showed a balance in gross accounts receivable (before the allowance for doubtful accounts)of $16,800. What amount would be shown as an operating cash inflow in the statement of cash flows under the indirect method?

Which of the following items is included on a statement of cash flows as a noncash exchange?

What is the effect of the sale of $5,000 worth of cash equivalents at cost in the statement of cash flows prepared under the direct method?

If a company issues both a balance sheet and an income statement with comparative figures from last year,a statement of cash flows:

Melville Company reported sales of $700,000,bad debt expense of $60,000,and an increase in net accounts receivable of $150,000 during the current year.What is the amount of cash collected from customers for the current year if the company did not record any write-offs during the current year?

The amortization of bond discount related to long-term debt should be presented in a statement of cash flows prepared using the indirect method as a(n)

Assume cash paid to suppliers for the current year is $350,000,merchandise inventory increased by $5,000 during the year,and accounts payable decreased by $10,000 during the year.What was the cost of goods sold for the current year?