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ACCT 102 QUICK ASSESSMENT HOMEWORK Chapter 14
1.. The three sections (activities) of a statement of cash flows are:
and
2. To prove (get the ending cash balance) your cash at the end of a statement of cash
flows you must add:
and
3. On a Statement of Cash flows, what section (activity) does the purchase of
investments go:
4. On a Statement of Cash flows, what section (activity) does the payment of
dividends go:
5. On a Statement of Cash flows, what section (activity) does an increase in Accounts
Payable go:
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tperson.com/player/pfokbookid=1133338 platform100 scenario invoketype-pagenumber-1bokserver userid=10419213054
Learning o
E14-18 Classifying items on the indirect statement of cash flows
The statement of cash flows categorizes like transactions for optimal reporting
Identify each item as a(n):
• Operating activity-addition to net income (O+) or subtraction from net income
(0-)
• Investing activity-cash inflow (I+) or cash outflow (1)
. Financing activity-cash inflow (F+) or cash outflow (F-)
• Non-cash investing and financing activity (NIF)
Activity that is not used to prepare the indirect statement of cash flows (N)
.
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The indirect method is used to report cash flows from operating activities.
a. Loss on sale of land.
i. Cash sale of land (no gain or loss).
b. Acquisition of equipment by
j. Issuance of long-term note payable
issuance of note payable.
to borrow cash.
c. Payment of long-term debt.
k. Depreciation Expense.
d. Acquisition of building by issuance 1. Purchase of treasury stock.
of common stock.
m. Issuance of common stock.
e. Increase in Salaries Payable.
n. Increase in Accounts Payable.
f. Decrease in Merchandise Inventory. o. Net income.
g. Increase in Prepaid Expenses.
p. Payment of cash dividend.
h. Decrease in Accrued Liabilities.
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d. Acquisition of building by issuance 1. Purchase of treasury stock.
of common stock
m. Issuance of common stock.
e. Increase in Salaries Payable.
n. Increase in Accounts Payable.
f. Decrease in Merchandise Inventory o. Net income.
g. Increase in Prepaid Expenses.
p. Payment of cash dividend.
h. Decrease in Accrued Liabilities
E14-19 Computing operating activities cash flow-indirect method
The records of Vintage Color Engraving reveal the following
Learning Objective 2
Net Cash Prov. by Op.
Act. $16,000
Net income
Sales revenue
Loss on sale of land
Acquisition of land
$36,000
53,000
4,000
35,000
Depreciation expense
Decrease in current liabilities
Increase in current assets other than cash
$5,000
19,000
10,000
Compute cash flows from operating activities by the indirect method for year ended
December 31, 2018
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Learning Objective
E14-21 Preparing the statement of cash flow-indirect method
The income of the Inc
Chow by Op
Act 5.000
BOOST RUINC
Matement
Year Ended September, 2018
ingen
S.
Depreciation et
Tolering
Metro Belor comes
Al data
Age of plantes i 3134000. Of this cu, 105,000 ch
in obye
ha fome of us on. There was no
c. Cal recipes from now
Payment of
. Pynt of the
From the balance sheet
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Gripe med en man. There was no gain or loss
back to
Payment of money is $15.00
Penis
The balanse
Cach
Ac Receivable
Land
Mente
Accumulated Depreciation
Accounts Payable
Ave Labs
Natybiedeng tar
Common Stock, ne
Retained Earning
September 10
2017
$ 1.000
000
61.000
000
000
$2.000 102.000
214.000 90.000
061.000 04.000
12.000 15.000
12.000
16 000
40.000
314 000 266.000
Prepare Boulement of cash flows for the year ended September 2016
the indirect method. Includes separate casting and
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test person.com/player/pdbook bookid=113333 platform1010 okeyper
coverusendes-1019213654
778 chapter 14
Learning Objective 2
2. Book Value on Plant Assets
Sold 57.000
E14-22 Computing cash flows for investing and financing activities
Consider the following facts for Java Jolt:
a. Beginning and ending Retained Earnings are $45,000 and $70,000, respectively.
Net income for the period is $60,000.
b. Beginning and ending Plant Assets are $124,500 and $134,500, respectively
c. Beginning and ending Accumulated Depreciation--Plant Assets are $21,500 and
$26,500, respectively.
d. Depreciation Expense for the period is $17,000, and acquisitions of new plant
assets total $29,000. Plant assets were sold at a $5,000 gain.
Requirements
1. How much are cash dividends?
2. What was the amount of the cash receipt from the sale of plant assets?
е
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Paragraph
...tokype
780 chapter 14
Learning Objective 2
Total Non-cash in and in
Act. 5153,000
E14-25 Identifying and reporting non-cash transactions
Dirtbikes, Inc. identified the following selected transactions that occurred during the
year ended December 31, 2018:
Issued 750 shares of $3 par common stock for cash of $17,000.
b. Issued 5,100 shares of $3 par common stock for a building with a fair market value
$96,000
c. Purchased new truck with a fair market value of $29,000. Financed it 100% with a
long-term note
d. Retired short-term notes of $28,000 by issuing 1,900 shares of $3 par
common stock
e. Puid long-term note of $10,500 to Bank of Tallahassee. Issued new long-term note
of $23,000 to Bank of Trust
Identify any non-cash transactions that occurred during the year, and show how they
would be reported in the non-cash investing and financing activities section of the
statement of cash flows.
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CIRCU LLEI, GURO.
Lean
P14-33A Preparing the statement of cash flows-indirect method
Accountants for Morganson, Inc. have assembled the following data for the year
ended December 31, 2018:
Net
Act.
2018
2017
Current Assets:
Cash
Accounts Receivable
Merchandise Inventory
Current Liabilities:
Accounts Payable
Income Payable
$99.400
64,100
83,000
$ 25,000
69,700
75,000
57,600
14,800
55,200
16,800
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