Quiz 24: The Statement of Cash Flows
An Example of an Investing Activity Is
An example of an investing activity is A) the issue of preferred stock. B) the resale of treasury stock. C) the issue of bonds and notes payable. D) the purchase of property,plant,or equipment for cash.
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Anders Inc,reported that its bonds with a par value of $500,000 and a carrying value of $525,000 was retired for $545,000 resulting in a loss of $20,000.The amounts to be reported under the cash flows include: A) $45,000 net decrease in cash used for financing activities. B) $525,000 net decrease in cash used for investing activities. C) $20,000 increase in cash from operating activities;$545,000 decrease in cash used for investing activities. D) $20,000 increase in cash from operating activities;$545,000 decrease in cash used for financing activities.
Cinders Inc,reported net income of $50,000 and loss on sale of plant assets of $15,000.The cash received from the sale of plant assets was $45,000.Cinders also issued additional shares of stock for $25,000 and paid dividends of $4,500.Calculate the increase or decrease in cash from investing activities. A) ($15,000). B) $60,000. C) $45,000. D) $40,500.
Windwhirl Company,reported net income of $150,000 and a $5,000 gain on the sale of equipment.The cash received from the sale of equipment was $22,000.Windwhirl issued additional shares of stock for $225,000,paid off a $200,000 bond issue recorded at par and paid out $40,000 in dividends during the year.Calculate the increase or decrease in cash from financing activities. A) ($15,000). B) $7,000. C) $27,000. D) $152,000.
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