ADMS quiz 14 - answers to quiz PDF

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What is the Net Cash provided by Operations when the indirect method to prepare cash flow statements is use?

$13,200 None of the other alternatives are correct $11,200 $6,300 $8,100 What is the total adjustment to reconcile profit to net cash under the indirect cash flow method? $ (1,750) ? None of the other alternatives are correct $ (4,660) $ (260) $ (2,920) Indicate whether Receivedadvance payments from customerson orders for custom-made goods is: a cash flow from a financing activity a cash flow from an operating activity ? None of the other alternatives are correct a cash flow from an investing activity not part of the cash flow statement (indirect method)

What is the total Cash Payments for operating expenses when the direct method is used to prepare the cash flow statement? ($25,050) ($45,000) ($45,730) ($65,000) None of the other alternatives are correct

Indicate in which of the three categories Bondsissued for cash should appear: not part of the cash flow statement (direct method) None of the other alternatives are correct cash flowsfrom operating activities (direct method) cash flows from investing activities cash flows from financing activities Which of the following is reported in the Financing section of Bernie's Ltd cash flow statement when using the indirect method? Inflow of cash for loan to Dennis's Ltd reflected as $26,000 ? Cash received for payment of dividends reflected as ($41,000) Outflow of cash for loan to Dennis's Ltd. reflected as ($26,000) Cash paid for issuing shares reflected as $242,000

None of the other alternatives are correct

What is the total cash outflow from investing activities as it appears on the cash flow statement when using the indirect method? ($735,000) The total for investing activities is actually a net cash inflow. ($149,000) ($586,000) ($612,000)

Indicate in which of the three categories Depreciation of Equipment should appear: cash flowsfrom operating activities (direct method) cash flows from investing activities not part of the cash flow statement (direct method) cash flows from financing activities None of the other alternatives are correct

How much is the net adjustment to net income under the operating activities section for inventory as it appears on the cash flow statement when using the indirect method? $6,000 $7,000 None of the other alternatives are correct ($7,000) The adjustment for inventory does not fall under the operating activities section.

What is the total Cash Payments for operating expenses when the direct cash flow method is used? ($26,500) None of the other alternatives are correct ($33,500) ($26,400) ($27,430)

What is the Net cash used by Investing activities when the indirect method to prepare cash flow statements is use? $8,000 ($2,000) ($67,500) ($52,000) None of the other alternatives are correct

What was the total amount paid to ALL suppliers during 20X5 when using the direct method? None of the other alternatives are correct ($270,000) $314,000 $44,000 $270,000

Indicate whether Investedcash in a money market fund (cash may be easilywithdrawn from the fund) is: a cash flow from an operating activity None of the other alternatives are correct not part of the cash flow statement (indirect method) a cash flow from an investing activity a cash flow from a financing activity

Indicate whether Retiredbonds payable at a loss is: a cash flow from a financing activity not part of the cash flow statement (indirect method) a cash flow from an investing activity None of the other alternatives are correct a cash flow from an operating activity

By how much the change in Accounts Payable has generated or (used) cash when the indirect cash flow method is used? ($4,400) $10,400 None of the other alternatives are correct $4,400 ? $14,000

Indicate in which of the three categories Cash loaned to borrowers should appear and whether it is an inflow or an outflow of cash: None of the other alternatives are correct Financing inflow Financing outflow Operating inflow Investing outflow

Indicate in which of the three categories Sale of long-terminvestments for cash should appear and whetherit is an inflow or an outflow of cash: Financing outflow Operating inflow None of the other alternatives are correct Investing outflow Financing inflow

Indicate in which of the three categories Cash receipts from customers should appear: cash flows from investing activities cash flowsfrom operating activities (direct method) None of the other alternatives are correct cash flows from financing activities not part of the cash flow statement (direct method)

The Net Cash provided by operating activities when using the indirect method is: $1,820 more than $2,000 $1,570 None of the other alternatives are correct less than $250 Total cash used for payment of income taxes in 20X5 as it appears on the cash flow statement when using the direct method was: $36,000 ($38,000) None of the other alternatives are correct $38,000 ($36,000) ? What where the proceeds of the sale of the machinery when the indirect method to prepare cash flow statements is use? ($4,000) $4,000 ($2,000) None of the other alternatives are correct $8,000

What is the Free Cash for Company XYZ for the year? $4,000 ($91,000) $61,000 None of the other alternatives are correct

$95,000

The total amount of Cash payments to suppliers when using the direct method is: $3,430 $2,970 $3,630 None of the other alternatives are correct $3,530 ? What was the total payment of Cash Dividends when the direct method is used to prepare the cash flow statement? ($1,000) $3,000 ($4,000) ? ($3,000) None of the other alternatives are correct What is the Total adjustment to reconcile profit to net cash when the indirect method to prepare cash flow statements is use? None of the other alternatives are correct ($16,800) ($82,300) ($17,830) ? ($87,730)

The gain on sale of PPE should be reported in which of the following ways on Bernie's Ltd cash flow statement when using the indirect method? It should not appear on the cash flow statement as it is a non-cash item. It should be deducted from net income in an opening paragraph before the operations section It should be deducted from net income in the operations section of the statement of cash flows It should be added to net income in the operations section of the statement of cash flows. It should be deducted in the investing section of the cash flow statement

Indicate in which of the three categories Cash loaned to borrowers should appear: cash flows from financing activities cash flows from investing activities not part of the cash flow statement (direct method) None of the other alternatives are correct cash flowsfrom operating activities (direct method)

What is the total adjustment to reconcile profit to net cash when the indirect method is used to prepare the cash flow statement? ($80,850) ($16,880) ($15,550) None of the other alternatives are correct ($87,180)

The total amount of Cash Receipts from Customers when using the direct method is: $5,550 ? None of the other alternatives are correct $5,000 More than $5,600 $4,450

Indicate in which of the three categories Cash receipts from customers should appear and whetherit is an inflow or an outflow of cash: Investing outflow Operating inflow Financing outflow None of the other alternatives are correct Financing inflow

Which of the following is reported in the Investing activities section when using the indirect method is? Cash inflow for purchase of a new machine for $1,200 None of the other alternatives are correct Cash outflow for the loss on the sale of a machine for $20 Cash outflow for the interests paid for $110 Cash outflow for the issuance of notes payables for $230 ?

What is the total Cash payments to suppliers when the direct method is used to prepare the cash flow statement? ($250,100) ? None of the other alternatives are correct ($214,020) ($286,380) ($280,050)

What is the Accumulated Depreciation of the machinery sold when the indirect method to prepare cash flow statements is use? None of the other alternatives are correct ($8,000)

$16,000 $2,000 ? $10,000

How much was the total cash receipts from operating activities for 20X5 as it appears on the cash flow statement when using the direct method? $650,000 $700,000 $674,000 None of the other alternatives are correct $696,000 ? What is the Net Cash used by financing activities when the indirect method to prepare cash flow statements is use? ($5,000) ($15,000) ($9,000) None of the other alternatives are correct ($17,000)

What is the Net cash used by Investing activities when the indirect cash flow method is used? $ 3,500 None of the other alternatives are correct $0 ? $ (2,910)? $ (3,170)

Indicate in which of the three categories Acquisition of plant assets for cash should appear and whetherit is an inflow or an outflow of cash: Financing outflow Operating inflow None of the other alternatives are correct Financing inflow Investing outflow

Long term notes payable were issued What is the adjustment in Income Tax payable to reconcile profit when using the indirect method is? No change Cash inflow for $120 ? Income tax expense and payable are not reported in the cash flow statement ? None of the other alternatives are correct Cash outflow for $120

By how much has the changes in Working Capital generated or (used) cash when the indirect method to prepare cash flow statements is use? None of the other alternatives are correct $31,800 ? ($35,500) ($28,800) ($60,600)

The Cash Flow statement: represents a proof of cash (shows the opening and closing balance and how the company goes from one to the other) suffers from the deficiency that it does not reconcile to the net income of the company none of the above must be the first statement completed when preparing the financial statement can only be prepared if the cash paradigm is followed

What is the Net Cash used by financing activities when the indirect cash flow method is used? ($300) ? None of the other alternatives are correct $2,500 ($200) $500

Indicate in which of the three categories Dividends paid should appear:

cash flowsfrom operating activities (direct method) not part of the cash flow statement (direct method) None of the other alternatives are correct cash flows from investing activities cash flows from financing activities ? What is the total Cash payments for Income Taxes when the direct method is used to prepare the cash flow statement? ($10,700) ($12,000) ($13,300) None of the other alternatives are correct ($9,900)

Indicate in which of the three categories Purchase of merchandise on Account should appearand whether it is an inflow or an outflow of cash: Investing outflow None of the other alternatives are correct Financing inflow

Financing outflow Operating inflow

How much was the total cash collections from customers in 20X5 as it appears on the cash flow statement when using the direct method? $650,000 $682,000 None of the other alternatives are correct $822,000 $714,000 ?

Indicate whether Gave large cash contribution to local university is: a cash flow from a financing activity not part of the cash flow statement (indirect method) None of the other alternatives are correct a cash flow from an investing activity a cash flow from an operating activity

What is the adjustment in Accounts Receivables to reconcile profit when using the indirect method is? No change Cash outflow for $550 Accounts Payables are reported in the financing activities section Cash inflow for $550 None of the other alternatives are correct

The total "Net Cash used by Investing Activities" when using the direct method was: None of the other alternatives are correct positive $50 negative $1,170 positive $30 negative $1,200

What is the Carrying amount for the machinery that was sold when the indirect method to prepare cash flow statements is use? $6,000 None of the other alternatives are correct $10,000 $8,000 ($2,000)

What is the Carrying amount for the machinery that was sold when the indirect method is used to prepare the cash flow statement? $12,000 $10,500 $2,000 $10,000 None of the other alternatives are correct

What is the Free Cash for Company XYZ for the year? ($18,000) $77,000 None of the other alternatives are correct ($45,000) $25,000

What is the Net cash used by Investing activities when the indirect method is used to prepare the cash flow statement? ($500) ($55,000) ($66,500) None of the other alternatives are correct $9,000

Which of the following is reported in the Investing section of Bernie's Ltd cash flow statement when using the indirect method? None of the other alternatives are correct Purchase of PPE reflected as ($735,000) and Purchase of a subsidiary reflected as ($26,000) Purchase of PPE reflected as $735,000 Purchase of PPE reflected as ($735,000) Purchase of a subsidiary reflected as ($26,000)

Indicate whether Loaned cash to help financethe start of a new biotechnology firm is: None of the other alternatives are correct a cash flow from an operating activity a cash flow from an investing activity a cash flow from a financing activity not part of the cash flow statement (indirect method)

What amount was paid to employees during 20X5 as it appears on the cash flow statement when using the direct method? $140,000 ($128,000) None of the other alternatives are correct

($140,000) $128,000

The main headings in the Cash Flow Statement are: Operating, Financing and Dividends None of the above Cash, Financing and Investing Operations, Financing, Investing ?? Income, Asset Acquisition, Financing

What is the Net Cash provided by Operations when the indirect cash flow method is used? $6,220 None of the other alternatives are correct $5,830 $500 ($500)

By how much the change in Accounts Payable has generated or (used) cash when the indirect method is used to prepare the cash flow statement? ($6,330) $6,330 ? $140,000 None of the other alternatives are correct $110,050

Indicate in which of the three categories Preferred shares issued for cash should appear and whetherit is an inflow or an outflow of cash: Financing outflow Investing outflow Operating inflow None of the other alternatives are correct Financing inflow ? What was the total Cash Receipts from Customers when the direct cash flow method is used? $97,090 $130,000 None of the other alternatives are correct $127,090 $97,000 What is the adjustment in Accounts Payable to reconcile profit when using the indirect method is? No change Accounts Payable are reported in the financing activities section

None of the other alternatives are correct Cash inflow for $330 Cash outflow for $330...