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Deck 13: Statement of Cash Flows
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Question
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from investing activities during the current year is:
A) $390,000 net cash used by investing activities.
B) $322,500 net cash provided by investing activities.
C) $352,500 net cash used by investing activities.
D) $360,000 net cash used by investing activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from investing activities during the current year is:
A) $390,000 net cash used by investing activities.
B) $322,500 net cash provided by investing activities.
C) $352,500 net cash used by investing activities.
D) $360,000 net cash used by investing activities.
Question
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from financing activities during the current year is:
A) $322,500 net cash provided by financing activities.
B) $172,500 net cash provided by financing activities.
C) $127,500 net cash provided by financing activities.
D) $375,000 net cash provided by financing activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from financing activities during the current year is:
A) $322,500 net cash provided by financing activities.
B) $172,500 net cash provided by financing activities.
C) $127,500 net cash provided by financing activities.
D) $375,000 net cash provided by financing activities.
Question
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from operating activities during the current year is:
A) $45,000 net cash provided by operating activities.
B) $1,155,000 net cash used by operating activities.
C) $240,000 net cash provided by operating activities.
D) $195,000 net cash provided by operating activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from operating activities during the current year is:
A) $45,000 net cash provided by operating activities.
B) $1,155,000 net cash used by operating activities.
C) $240,000 net cash provided by operating activities.
D) $195,000 net cash provided by operating activities.
Question
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-In the statement of cash flows for the current year for Rag Dolls Corporation, the amount of cash received from customers is:
A) $1,310,000.
B) $1,103,000.
C) $1,233,000.
D) $1,293,000.
Using the above information, indicate the best answer for each question in the space provided.-In the statement of cash flows for the current year for Rag Dolls Corporation, the amount of cash received from customers is:
A) $1,310,000.
B) $1,103,000.
C) $1,233,000.
D) $1,293,000.
Question
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. The cost of the land sold during Year 2 was:
A) $65,000.
B) $125,000.
C) $190,000.
D) $60,000.
-Refer to the above data. The cost of the land sold during Year 2 was:
A) $65,000.
B) $125,000.
C) $190,000.
D) $60,000.
Question
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. The cost (book value) of the marketable securities sold during Year 2 was:
A) $207,000.
B) $113,000.
C) $160,000.
D) Some other amount.
-Refer to the above data. The cost (book value) of the marketable securities sold during Year 2 was:
A) $207,000.
B) $113,000.
C) $160,000.
D) Some other amount.
Question
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000.
B) $350,000.
C) $290,000.
D) Some other amount.
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000.
B) $350,000.
C) $290,000.
D) Some other amount.
Question
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Investment in Marketable Securities at $250,000. On the basis of the data presented above, compute the amount to be reported for Investment in Marketable Securities in Lester Corporation's balance sheet at December 31, Year 2.
A) $43,000.
B) $110,000.
C) $137,000.
D) $253,000.
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Investment in Marketable Securities at $250,000. On the basis of the data presented above, compute the amount to be reported for Investment in Marketable Securities in Lester Corporation's balance sheet at December 31, Year 2.
A) $43,000.
B) $110,000.
C) $137,000.
D) $253,000.
Question
Question
Using the following information, complete the statement of cash flows for Nutritional Foods for Year 1. Place parentheses around those figures in the statement representing cash outlays.
NUTRITIONAL FOODS
Statement of Cash Flows
For the Year Ended December 31, Year 1
NUTRITIONAL FOODSStatement of Cash Flows
For the Year Ended December 31, Year 1
Question
The following balance sheets are provided for Socrates Foods:
a) 
b) Socrates Foods recorded the sale of equipment as follows:
How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)
a) b) Socrates Foods recorded the sale of equipment as follows: How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)
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Deck 13: Statement of Cash Flows
1
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from investing activities during the current year is:
A) $390,000 net cash used by investing activities.
B) $322,500 net cash provided by investing activities.
C) $352,500 net cash used by investing activities.
D) $360,000 net cash used by investing activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from investing activities during the current year is:
A) $390,000 net cash used by investing activities.
B) $322,500 net cash provided by investing activities.
C) $352,500 net cash used by investing activities.
D) $360,000 net cash used by investing activities.
$352,500 net cash used by investing activities.
2
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from financing activities during the current year is:
A) $322,500 net cash provided by financing activities.
B) $172,500 net cash provided by financing activities.
C) $127,500 net cash provided by financing activities.
D) $375,000 net cash provided by financing activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from financing activities during the current year is:
A) $322,500 net cash provided by financing activities.
B) $172,500 net cash provided by financing activities.
C) $127,500 net cash provided by financing activities.
D) $375,000 net cash provided by financing activities.
$172,500 net cash provided by financing activities.
3
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-Rag Dolls' cash flow from operating activities during the current year is:
A) $45,000 net cash provided by operating activities.
B) $1,155,000 net cash used by operating activities.
C) $240,000 net cash provided by operating activities.
D) $195,000 net cash provided by operating activities.
Using the above information, indicate the best answer for each question in the space provided.-Rag Dolls' cash flow from operating activities during the current year is:
A) $45,000 net cash provided by operating activities.
B) $1,155,000 net cash used by operating activities.
C) $240,000 net cash provided by operating activities.
D) $195,000 net cash provided by operating activities.
$195,000 net cash provided by operating activities.
4
In order to prepare the statement of cash flows for Rag Dolls Corporation for the current year, the accountant has compiled the following data regarding cash flows:
Using the above information, indicate the best answer for each question in the space provided.
-In the statement of cash flows for the current year for Rag Dolls Corporation, the amount of cash received from customers is:
A) $1,310,000.
B) $1,103,000.
C) $1,233,000.
D) $1,293,000.
Using the above information, indicate the best answer for each question in the space provided.-In the statement of cash flows for the current year for Rag Dolls Corporation, the amount of cash received from customers is:
A) $1,310,000.
B) $1,103,000.
C) $1,233,000.
D) $1,293,000.
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5
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. The cost of the land sold during Year 2 was:
A) $65,000.
B) $125,000.
C) $190,000.
D) $60,000.
-Refer to the above data. The cost of the land sold during Year 2 was:
A) $65,000.
B) $125,000.
C) $190,000.
D) $60,000.
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6
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. The cost (book value) of the marketable securities sold during Year 2 was:
A) $207,000.
B) $113,000.
C) $160,000.
D) Some other amount.
-Refer to the above data. The cost (book value) of the marketable securities sold during Year 2 was:
A) $207,000.
B) $113,000.
C) $160,000.
D) Some other amount.
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7
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000.
B) $350,000.
C) $290,000.
D) Some other amount.
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000.
B) $350,000.
C) $290,000.
D) Some other amount.
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8
Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Investment in Marketable Securities at $250,000. On the basis of the data presented above, compute the amount to be reported for Investment in Marketable Securities in Lester Corporation's balance sheet at December 31, Year 2.
A) $43,000.
B) $110,000.
C) $137,000.
D) $253,000.
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Investment in Marketable Securities at $250,000. On the basis of the data presented above, compute the amount to be reported for Investment in Marketable Securities in Lester Corporation's balance sheet at December 31, Year 2.
A) $43,000.
B) $110,000.
C) $137,000.
D) $253,000.
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9
Which of the following correctly describes a difference between the direct method and the indirect method of computing operating cash flow?
A) The direct method is used when accounting records are kept on a cash basis; the indirect method is used when accounting records are maintained on an accrual basis.
B) The direct method may be used only when a company maintains special journals for cash receipts and cash disbursements; the indirect method is used in all other situations.
C) Both the direct and the indirect methods result in the same net cash flow from operating activities, but the format of this section of the statement of cash flows is different under the alternative methods.
D) The direct method is used when all accounting records and bank statements are available; the indirect method is used when some accounting records or documents are missing or have been destroyed.
A) The direct method is used when accounting records are kept on a cash basis; the indirect method is used when accounting records are maintained on an accrual basis.
B) The direct method may be used only when a company maintains special journals for cash receipts and cash disbursements; the indirect method is used in all other situations.
C) Both the direct and the indirect methods result in the same net cash flow from operating activities, but the format of this section of the statement of cash flows is different under the alternative methods.
D) The direct method is used when all accounting records and bank statements are available; the indirect method is used when some accounting records or documents are missing or have been destroyed.
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10
Using the following information, complete the statement of cash flows for Nutritional Foods for Year 1. Place parentheses around those figures in the statement representing cash outlays.
NUTRITIONAL FOODS
Statement of Cash Flows
For the Year Ended December 31, Year 1
NUTRITIONAL FOODSStatement of Cash Flows
For the Year Ended December 31, Year 1
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11
The following balance sheets are provided for Socrates Foods:
a) b) Socrates Foods recorded the sale of equipment as follows:
How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)
a) b) Socrates Foods recorded the sale of equipment as follows: How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.) Unlock Deck
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