The following transactions occurred last year at Jolly Corporation:
Issuance of shares of the company's own common stock $120,000
Dividends paid to the company's own shareholders $1,000
Sale of long-term investment $7,000
Interest paid to lenders $13,000
Retirement of the company's own bonds payable $60,000
Proceeds from sale of the company's used equipment $8,000
Purchase of property $170,000
Based solely
on the above information, the net cash provided by financing activities for the year on the statement of cash flows would be:
$179,000
$59,000
[$109,000]
$46,000
Norbury Corporation's net income last year was $34,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below:
Increases
[Decreases]
Asset and Contra-Asset Accounts:
Accounts
receivable $12,000
Inventory [$9,000]
Prepaid expenses $4,000
Accumulated depreciation $19,000
Liability Accounts:
Accounts payable $5,000
Accrued liabilities $7,000
Income taxes payable [$6,000]
Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would be:
$52,000
$66,000
$53,000
$16,000
Majorn Auto Parts Store had net income of $81,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year:
Increase in accounts receivable $102,000
Decrease in inventory $18,000
Decrease in accounts payable $35,000
Increase in retained earnings $29,000
Cash received from sale of building $215,000
Gain on sale of building $47,000
Depreciation expense $32,000
Majorn uses the indirect method to prepare its statement of cash flows. What
is Majorn's net cash provided [used] by operating activities?
$41,000
[$53,000]
$185,000
$279,000
Klutz Dance Studio had net income of $167,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:
Decrease in accounts receivable $24,000
Increase in accounts payable $11,000
Increase in retained earnings $92,000
Cash paid for purchase of new music equipment
$20,000
Depreciation expense $5,000
Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided [used] by operating activities?
$95,000
$137,000
$185,000
$207,000
Morbeck Corporation's net income last year was $56,000. The company paid a cash dividend of $31,000 and did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below:
Increases
[Decreases]
Asset and Contra-Asset Accounts:
Accounts receivable [$8,000]
Inventory [$6,000]
Prepaid expenses $12,000
Accumulated depreciation $23,000
Liability Accounts:
Accounts payable [$10,000]
Accrued liabilities $7,000
Income taxes payable $5,000
Bonds payable $40,000
Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would
be:
$83,000
$102,000
$29,000
$79,000
The following transactions occurred last year at Jogger Corporation:
Issuance of shares of the company's own common stock $110,000
Dividends paid to the company's own shareholders $3,000
Sale of long-term investment $4,000
Interest paid to lenders $8,000
Retirement of the company's own bonds payable $100,000
Proceeds from sale of the company's used equipment $29,000
Purchase of
new equipment $170,000
Based solely on the above information, the net cash provided by financing activities for the year on the statement of cash flows would be:
$424,000
[$138,000]
[$1,000]
$7,000
The data given below are from the accounting records of the Kuhn Corporation:
Net Income [accrual basis] $45,000
Depreciation Expense $9,000
Decrease in Accounts Payable $2,500
Decrease in Inventory $3,000
Increase in Bonds
Payable $10,000
Sale of Common Stock for cash $30,000
Increase in Accounts Receivable $4,500
Based on this information, the net cash provided by operating activities using the indirect method would be:
$55,000
$58,000
$50,000
$60,000
McCorey Corporation recorded the following events last year:
Repurchase by the company of its own common stock $60,000
Sale of long-term investment $55,000
Interest paid to lenders
$15,000
Dividends paid to the company's shareholders $70,000
Collection by McCorey of a loan made to another company $75,000
Payment of taxes to governmental bodies $50,000
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.
Based solely on the information above, the net cash provided by [used in] financing activities on the statement of
cash flows would be:
[$70,000]
$70,000
[$130,000]
$130,000
McCorey Corporation recorded the following events last year:
Repurchase by the company of its own common stock $60,000
Sale of long-term investment $55,000
Interest paid to lenders $15,000
Dividends paid to the company's shareholders $70,000
Collection by McCorey of a loan made to another company $75,000
Payment of taxes to governmental bodies $50,000
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.
Based solely on the information above, the net cash provided by [used in] investing activities on the statement of cash flows would be:
$110,000
$55,000
$150,000
$130,000
Randal Corporation recorded the following activity for the year just ended:
Proceeds
from sale of property $300,000
Cash received from customers $120,000
Issuance of common stock $180,000
Issuance of bonds payable $500,000
Dividends paid to stockholders $130,000
Purchase of equipment $400,000
The net cash provided by financing activities for the year was:
$100,000
$550,000
$180,000
$680,000
Randal Corporation recorded the following activity for the year just ended:
Proceeds from sale of property
$300,000
Cash received from customers $120,000
Issuance of common stock $180,000
Issuance of bonds payable $500,000
Dividends paid to stockholders $130,000
Purchase of equipment $400,000
The net cash provided by [used in] investing activities for the year was:
$100,000
[$100,000]
[$400,000]
$400,000
Spackel Corporation recorded the following events last year:
Issuance of shares of the company's own common stock
$380,000
Purchase of long-term investment $40,000
Dividends paid to the company's own shareholders $18,000
Cash paid to suppliers for inventory purchases $12,000
Repayment of principal on the company's own bonds $370,000
Interest paid to lenders $6,000
Collection by Spackel of a loan made to another company $110,000
Purchase of equipment $350,000
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.
Based solely on the information above, the net cash provided by [used in] financing activities on the statement of cash flows would be:
[$8,000]
[$14,000]
$104,000
$1,286,000
Spackel Corporation recorded the following events last year:
Issuance of shares of the company's own common stock $380,000
Purchase of long-term investment $40,000
Dividends paid to the
company's own shareholders $18,000
Cash paid to suppliers for inventory purchases $12,000
Repayment of principal on the company's own bonds $370,000
Interest paid to lenders $6,000
Collection by Spackel of a loan made to another company $110,000
Purchase of equipment $350,000
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.
Based
solely on the information above, the net cash provided by [used in] investing activities on the statement of cash flows would be:
[$280,000]
[$390,000]
[$760,000]
[$1,286,000]
Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below:
Increases
[Decreases]
Asset and Contra-Asset Accounts:
Cash [$3,000]
Accounts receivable [$14,000]
Inventory
$3,000
Prepaid expenses [$7,000]
Long-term investments $80,000
Property, plant and equipment $55,000
Accumulated depreciation $58,000
Liability and Equity Accounts:
Accounts payable $0
Accrued liabilities $15,000
Income taxes payable [$11,000]
Bonds payable [$30,000]
Common stock $20,000
Retained earnings $62,000
The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
The net cash provided by [used in] operating activities last year was:
$98,000
$178,000
$156,000
$120,000
Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below:
Increases
[Decreases]
Asset and
Contra-Asset Accounts:
Cash [$3,000]
Accounts receivable [$14,000]
Inventory $3,000
Prepaid expenses [$7,000]
Long-term investments $80,000
Property, plant and equipment $55,000
Accumulated depreciation $58,000
Liability and Equity Accounts:
Accounts payable $0
Accrued liabilities $15,000
Income taxes payable [$11,000]
Bonds payable [$30,000]
Common stock $20,000
Retained earnings $62,000
The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
The net cash provided by [used in] investing activities last year was:
$115,000
[$115,000]
$135,000
[$135,000]