Homework Answers
1
Increase in common Stock
By issuing new common stock a company will receive cash
2
Purchase of Equipment
Purchase of Equipment is classified as Investment activity on the statement of cash flows
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Which one of the following is a source of cash? O increase in common stock O...
Which one of the following is a source of cash? Multiple Choice Ο Repurchase of common...
Which one of the following is a source of cash? Multiple Choice Ο Repurchase of common stock Ο Acquisition of debt Ο Purchase of inventory Ο Payment to a supplier Ο Granting credit to a customer Which one of the following is a source of cash? Multiple Choice Ο Increase in accounts receivable Ο Decrease in common stock Ο Increase in fixed assets Ο Decrease in accounts payable Ο Decrease in inventory
Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018...
Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 Assets: Cash $33,200 $12,750 Accounts receivable 53,000 44,800 Inventory 29,500 27,500 Prepaid rent 2,200 6,200 Investments (long-term) 17,600 31,800 Property, plant, and equipment 162,000 149,450 Accumulated depreciation (61,600) (56,200) Total assets $235,900 $216,300 Liabilities and Equity: Accounts payable $16,900 $19,500 Interest payable 3,500 4,800 Wages payable 9,600 7,100 Income taxes payable 5,500 3,600 Notes payable 30,400 53,000 Common stock 100,000 68,500 Retained earnings 70,000...
Which of the following is not a source of cash? A. Dividends received on investment. B....
Which of the following is not a source of cash? A. Dividends received on investment. B. Borrowing $5,000 on short-term note. C. Gain on sale of warehouse. D. All of these answer choices are sources of cash. Which of the following is not a use of cash? A. Purchasing supplies for cash B. Paying dividends to stockholders C. Buying inventory on account D. Repayment of bond payable Which of the following cash flows results from an operating activity? A. Repaying...
As sales increase which of the following is a source of funds? a decrease in accounts...
As sales increase which of the following is a source of funds? a decrease in accounts payable the portion of profit added to retained earnings an increase in accounts receivable a decrease in long-term debt
What is the operating cash flow, given the following information? $ 740 Net income Depreciation Issuance...
What is the operating cash flow, given the following information? $ 740 Net income Depreciation Issuance of new stock Repayment of dept Sale of old equipment Purchase of new equipment Dividend payments Interest payments EA A A A A A $780 $890 $930 $680 $650 QUESTION 3 The management of the Downtown Athletics recently voted to limit any future borrowing or sales of company stock. By taking this action, management has effectively done which one of the following? increased the...
Indicate the type of cash flows resulting from the following transactions and whether it would increase...
Indicate the type of cash flows resulting from the following transactions and whether it would increase (I) or decrease (D) the cash flows. If a transaction has no cash flow effects, so indicate. Transaction Operating Investing Financing No CF effect EXAMPLE: Payment of note payable D Payment of dividends Acquisition of land by issuing a note Payments to suppliers Interest paid on bonds payable Purchase of equity securities on the market Cash received from customers Issuance of bonds payable Purchase...
P 10-2 Cash Flows Classification Operating Investing Financing Effect on Cash Activity Activity Activity Increase Decrease...
P 10-2 Cash Flows Classification Operating Investing Financing Effect on Cash Activity Activity Activity Increase Decrease Data a. Net income b. Paid cash dividend c. Increase in receivables d. Retirement of debt-paying cash Purchase of treasury stock Purchase of equipment e. f. Cash Flows Classification Operating Investing Financing Noncash Effect on Cash Trans- Decrease actions Data Activity Activity Activity Increase Sale of equipment Decrease in inventory Acquisition of land, using common stock Retired bonds, using common stock Decrease in accounts...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment Distribute a Stock Dividend [Choose ] Investing + Non-cash investing and financing Financing - Investing - Financing + Operating - Operating + Record Bad Debt Expense Decrease in Merchandise Inventory [Choose Pay off Bonds Payable [Choose) Increase in Accounts Payable [Choose Issue Common Stock [Choose] Sale of long-term investments [Choose] Net Income [Choose)
Following are a statement of cash flows (indirect method) for Harris, Inc., for the year ended...
Following are a statement of cash flows (indirect method) for
Harris, Inc., for the year ended December 31, 2017, and the firm’s
balance sheet at December 31, 2016:
HARRIS, INC.
Statement of Cash Flows
For the year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income
$
13,600
Add (deduct) items not affecting cash:
Depreciation expense
32,000
Increase in accounts receivable
(7,000
)
Decrease in merchandise inventory
32,800
Increase in accounts payable
4,900
Net cash provided by operating...
Which one of the following will increase the current ratio but not the quick ratio? O...
Which one of the following will increase the current ratio but not the quick ratio? O increase in inventory O decrease in cash O increase in accounts payable decrease in accounts receivable Welcome Inn has total equity of $471.000 and a debt-equity ratio of .54. What is the firm's equity multiplier? O 1.54 O 1.40 ○ .46 O 185 The debt-equity ratio is equal to which one of the following? O Equity multiplier + 1 O Long-term debt / Total...
Which one of the following is a source of cash? Multiple Choice Ο Repurchase of common stock Ο Acquisition of debt Ο Purchase of inventory Ο Payment to a supplier Ο Granting credit to a customer Which one of the following is a source of cash? Multiple Choice Ο Increase in accounts receivable Ο Decrease in common stock Ο Increase in fixed assets Ο Decrease in accounts payable Ο Decrease in inventory
What is the operating cash flow, given the following information? $ 740 Net income Depreciation Issuance of new stock Repayment of dept Sale of old equipment Purchase of new equipment Dividend payments Interest payments EA A A A A A $780 $890 $930 $680 $650 QUESTION 3 The management of the Downtown Athletics recently voted to limit any future borrowing or sales of company stock. By taking this action, management has effectively done which one of the following? increased the...
P 10-2 Cash Flows Classification Operating Investing Financing Effect on Cash Activity Activity Activity Increase Decrease Data a. Net income b. Paid cash dividend c. Increase in receivables d. Retirement of debt-paying cash Purchase of treasury stock Purchase of equipment e. f. Cash Flows Classification Operating Investing Financing Noncash Effect on Cash Trans- Decrease actions Data Activity Activity Activity Increase Sale of equipment Decrease in inventory Acquisition of land, using common stock Retired bonds, using common stock Decrease in accounts...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment Distribute a Stock Dividend [Choose ] Investing + Non-cash investing and financing Financing - Investing - Financing + Operating - Operating + Record Bad Debt Expense Decrease in Merchandise Inventory [Choose Pay off Bonds Payable [Choose) Increase in Accounts Payable [Choose Issue Common Stock [Choose] Sale of long-term investments [Choose] Net Income [Choose)
Following are a statement of cash flows (indirect method) for
Harris, Inc., for the year ended December 31, 2017, and the firm’s
balance sheet at December 31, 2016:
HARRIS, INC.
Statement of Cash Flows
For the year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income
$
13,600
Add (deduct) items not affecting cash:
Depreciation expense
32,000
Increase in accounts receivable
(7,000
)
Decrease in merchandise inventory
32,800
Increase in accounts payable
4,900
Net cash provided by operating...
Which one of the following will increase the current ratio but not the quick ratio? O increase in inventory O decrease in cash O increase in accounts payable decrease in accounts receivable Welcome Inn has total equity of $471.000 and a debt-equity ratio of .54. What is the firm's equity multiplier? O 1.54 O 1.40 ○ .46 O 185 The debt-equity ratio is equal to which one of the following? O Equity multiplier + 1 O Long-term debt / Total...
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