29 Jun issuance of debt to purchase asse
Question
10 fast Questions
1.Miracle Company purchased treasury stock with a cost of $15,000 during 2012. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $866,000. Cash flows from financing activities for 2012 total (Points : 2) $846,000 net cash inflow.
$861,000 net cash inflow.
$866,000 net cash outflow.
$831,000 net cash inflow.
Question 2. 2.The statement of cash flows reports each of the following except (Points : 2)
cash receipts from operating activities.
cash payments from investing activities.
the net change in cash.
cash sales.
Question 3. 3.The statement of cash flows (Points : 2)
must be prepared on a daily basis.
summarizes the operating, financing, and investing activities of an entity.
is another name for the income statement.
is a special section of the income statement.
Question 4. 4.Each of the following are particularly interested in the statement of cash flows except (Points : 2)
creditors.
employees.
shareholders.
government agencies.
Question 5. 5.Each of the following is an example of a significant noncash activity except (Points : 2)
conversion of bonds into common stock.
exchanges of plant assets.
issuance of debt to purchase assets.
stock dividends.
Question 6. 6.In Garland Company, land decreased $140,000 because of a cash sale for $140,000, the equipment account increased $40,000 as a result of a cash purchase, and Bonds Payable increased $130,000 from issuance for cash at face value. The net cash provided by investing activities is (Points : 2)
$140,000.
$230,000.
$100,000.
$110,000.
Question 7. 7.Indicate where the event purchased land and a building with a mortgage would appear, if at all, on the indirect statement of cash flows. (Points : 2)
Operating activities section
Investing activities section
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