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Exam 11: Statement of Cash Flows

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Question 81

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Wireless Technologies reports sales of $50 million.Accounts receivable at the beginning and end of the year are $5 million and $7 million,respectively.What is the amount of cash received from customers?

A) $50 million.
B) $52 million.
C) $48 million.
D) $55 million.

E) None of the above
F) A) and C)

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Question 82

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The statement of cash flows reports cash flows from the activities of:

A) Operating,purchasing,and investing.
B) Borrowing,paying,and investing.
C) Operating,investing,and financing.
D) Using,investing,and financing.

E) B) and D)
F) C) and D)

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Question 83

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The long-term assets section of the balance sheet is the place to look for investing activities.

Laser Solutions' inventory decreases during the year by $8 million and its accounts payable to suppliers increases by $6 million during the same period.What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $81 million?

The Statement of Cash Flows:

The purchase of land is classified in the statement of cash flows as a(n) :

Kela Corporation reports net income of $450,000 that includes depreciation expense of $70,000.Also,cash of $50,000 was borrowed on a 5-year note payable.Based on this data,total cash inflows from operating activities are:

Using the direct method we adjust the items on the income statement to directly show the cash inflows and outflows from operations.