11) Team Shirts, Inc. had net cash from operating activities of $40,000. It paid $25,000 to buy a new screen-printing system, and repaid a $10,000 loan. Net cash for the period was ________.
A) $40,000
B) $75,000
C) $55,000
D) $5,000
12) Team Shirts, Inc. bought a screen-printing machine for $50,000, received $15,000 for the sale of its machine, and repaid a loan of $20,000. The amount of net cash from (or used for)
investing
activities is ________.
A) $(35,000)
B) $15,000
C) $(5,000)
D) $20,000
13) Team Shirts, Inc. bought a computer system for $100,000 and received $10,000 for the sale of its used computers. It also received $10,000 from the sale of its inventory. The amount of net cash from
investing
activities is ________.
A) $(100,000)
B) $(90,000)
C) $(80,000)
D) $80,000
14) Team Shirts, Inc. issued $100,000 in common stock, borrowed $20,000, and paid $5,000 in dividends. The amount of net cash from (or used for)
financing
activities is ________.
A) $80,000
B) $75,000
C) $115,000
D) $(125,000)
15) Team Shirts, Inc. purchased $10,000 worth of treasury stock, paid $5,000 of its accounts payable, and paid $500 in dividends. The amount of net cash from (or used) for
financing
activities is ________.
A) $(10,500)
B) $(13,500)
C) $10,500
D) $13,500
16) Team Shirts, Inc. collected $16,000 from accounts receivable, paid $10,000 of its accounts payable and paid $1,000 in interest. The amount of net cash from (or used) for
operating
activities is ________.
A) $5,000
B) $6,000
C) $(5,000)
D) $(6,000)
17) Team Shirts, Inc. collected $20,000 from customers, recorded depreciation expense of $5,000, received interest of $100, paid $15,000 of its operating expenses, and paid $500 in dividends. The amount of net cash from (or used) for
operating
activities is ________.
A) $10,100
B) $100
C) $5,100
D) $9,600
18) Team Shirts, Inc. sold a piece of equipment for $16,000. The carrying value of the equipment was $17,000. The original cost of the equipment was $25,000. A loss on the sale of $1,000 was reported. The amount of net cash from (or used) for
INVESTING
activities is ________.
A) $16,000
B) $17,000
C) $(1,000)
D) $(25,000)
19) Team Shirts, Inc. sold a piece of equipment for $13,400. The book value of the equipment was $14,000. The original cost of the equipment was $19,000. A loss on the sale of $600 was reported. The amount of cash reported on the statement of cash flows was ________.
A) $600 net inflow
B) $17,600 net inflow
C) $13,400 net inflow
D) $5,600 net outflow
20) Cash paid for interest payments is characterized as an ________ activities.
A) inflow from investing
B) outflow for financing
C) inflow from operating
D) outflow for operating