67. Miller Company purchased treasury shares with a cost of $15,000 during 2014. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $916,000. Cash flows...





67. Miller Company purchased treasury shares with a cost of $15,000 during 2014. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $916,000. Cash flows from financing activities for 2014 total



a.$896,000 net cash inflow.



b.$911,000 net cash inflow.



c.$916,000 net cash outflow.



d.$881,000 net cash inflow.







68. Cline Company issued ordinary shares for proceeds of $392,000 during 2014. The company paid dividends of $66,000 and issued a non-current note payable for $90,000 in exchange for equipment during the year. The company also purchased treasury shares that had a cost of $14,000. The financing section of the statement of cash flows will report net cash inflows of



a.$312,000.



b.$424,000.



c.$326,000.



d.$378,000.







69. In Gentry Company, land decreased $180,000 because of a cash sale for $180,000, 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



a.$180,000.



b.$270,000.



c.$140,000.



d.$130,000.







70. Accounts receivable arising from sales to customers amounted to ¥800,000 and ¥700,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was ¥2,600,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is



a.¥2,600,000.



b.¥2,700,000.



c.¥3,300,000.



d.¥2,500,000.







71. Accounts receivable arising from sales to customers amounted to ¥350,000 and ¥400,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was ¥1,800,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is



a.¥1,800,000.



b.¥1,850,000.



c.¥2,150,000.



d.¥1,750,000.





72. Wilton Company reported net income of $70,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is



a.$60,000.



b.$85,000.



c.$69,000.



d.$65,000.







73. Buster Company reported a net loss of $9,000 for the year ended December 31, 2014. During the year, accounts receivable increased $21,000, inventory decreased $15,000, accounts payable decreased by $30,000, and depreciation expense of $15,000 was recorded. During 2014, operating activities



a.used net cash of $30,000.



b.used net cash of $42,000.



c.provided net cash of $42,000.



d.provided net cash of $27,000.







74. The net income reported on the income statement for the current year was ¥2,750,000. Depreciation recorded on plant assets was ¥380,000. Accounts receivable and inventories increased by ¥20,000 and ¥80,000, respectively. Prepaid expenses and accounts payable decreased by ¥10,000 and ¥110,000 respectively. How much cash was provided by operating activities?



a.¥2,550,000



b.¥2,930,000



c.¥2,750,000



d.¥3,090,000







75. The net income reported on the income statement for the current year was ¥2,700,000. Depreciation was ¥500,000. Account receivable and inventories decreased by ¥100,000 and ¥300,000, respectively. Prepaid expenses and accounts payable increased, respectively, by ¥10,000 and ¥80,000. How much cash was provided by operating activities?



a.¥3,310,000



b.¥3,670,000



c.¥3,510,000



d.¥3,590,000







76. If a gain of $15,000 is incurred in selling (for cash) office equipment having a book value of $120,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is



a.$105,000.



b.$135,000.



c.$120,000.



d.$15,000.







May 15, 2022
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