10 May HOW IS THIS REPORTED ON THE STATEMENT OF CASH FLOWS?
1.Which of the following is an operating activity?o Sale of equipmento Payment of interesto Payment of a cash dividendo Making a loan to another entity 2.Which is an example of a cash flow from an investing activity?o Payment of cash to repurchase outstanding capital stocko Receipt of cash from the sale of equipmento Payment of cash to suppliers for inventoryo Receipt of cash from the issuance of bonds payable3.Hanover Inc. purchased land through the issuance of long-term bonds. How is this reported on the statement of cash flows?o Investing inflowo Operating activityo Financing outflowo Significant noncash investing and financing activity that merits disclosure 4.Under the indirect method of preparing the statement of cash flows which of the following is added to net income in the operating activities section?o Gain on sale of equipmento Decrease in accounts payableo Increase in accounts receivableo Depreciation expense5.In what section of the statement of cash flows will the issuance of bonds payable to acquire a building be reported?o Cash flows from financing activitieso Cash flows from operating activitieso Cash flows from investing activitieso Noncash investing and financing activities6. Which of the following items is reported in the operating activities section of a statement of cash flows prepared using the direct method?o Depreciation expenseo Increase in accounts receivableo Loss on sale of buildingo Cash payments to suppliers7. In horizontal analysis of a balance sheet of what amount is each item expressed as a percentage?o Current year net income amounto Current year stockholders’ equity amounto Current year total assets amounto Base-year amount8. The following schedule is a display of what type of analysis? Amount PercentCurrent assets $200 000 25%Property plant and equipment 600 000 75%Total assets $800 000 100%o Trend analysiso Vertical analysiso Horizontal analysiso Ratio analysis9. Ceradyne Inc. presented the following data for a company:Current liabilities $360Long-term debt 480Common stock 640Retained earnings 520Total liabilities & stockholders’ equity $2 00010. How would common stock appear on a common size balance sheet using vertical analysis?o 32.0%o 75.0%o Cannot be determined from the data giveno 55.1 .Use the following financial statement information as of the end of each year to answer this question. 2017 2016Inventory $54 000 $48 000Current assets 81 000 106 000Total assets 392 000 336 000Current liabilities 27 000 36 000Total liabilities 102 000 88 000Total stockholders’ equity 290 000 248 000Preferred stock 10 000 10 000Net sales 784 000 697 000Cost of goods sold 306 000 277 000Net income 34 000 90 000Tax expense 22 000 18 000Interest expense 12 000 12 000Dividends paid to preferred stockholders 2 000 2 000Dividends paid to common shareholders 1 000 1 000Compute the profit margin for 2017.o 8.9%o 4.3%o 8.4%o 11.7%
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