Question 1

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Selected data from the financial statements of Mars & Venus Counseling Center for the years ended December 31, 2014 and 2013, are presented below:
  What is the amount of cash and cash equivalents at the end of 2014?

Accepted Answer

The answer of Selected data and additional information from the...

Question 2

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. Prepare the operating activities section of a statement of cash flows for 2014 assuming the use of the indirect method of determining net cash flow from operating activities.

Accepted Answer

The answer of Selected data and additional information from the...

Question 3

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. What was the amount paid to retire long-term debt during 2014?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 4

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. Prepare the company's statement of cash flows for the year ended December 31, 2014. Use the indirect method of determining net cash flows from operating activities.

Accepted Answer

The answer of Selected data and additional information from the...

Question 5

-Refer to Merry Maids Company. What method is used to calculate the net cash provided by operating activities?

Accepted Answer

The answer of 
-Refer to Merry Maids Company. What method...

Question 6

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. What was the cost of the property, plant and equipment which was disposed of during 2014?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 7

-Refer to Merry Maids Company. What is the significance of the positive amounts shown in both years for accounts payable and accrued liabilities?

Accepted Answer

The answer of 
-Refer to Merry Maids Company. What is...

Question 8

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. Prepare the investing activities section of the company's statement of cash flows for 2014.

Accepted Answer

The answer of Selected data and additional information from the...

Question 9

-Refer to Merry Maids Company. Give some examples of circumstances that would result in net cash used by investing activities as shown above.

Accepted Answer

The answer of 
-Refer to Merry Maids Company. Give some...

Question 10

Refer to Mary Kay Cosmetics. Prepare the company's statement of cash flows for the year ended December 31, 2014. Use the direct method of determining net cash flows from operating activities.

Accepted Answer

The answer of Refer to Mary Kay Cosmetics. Prepare the...

Question 11

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. How would the transaction to acquire a building by signing a 20-year mortgage note payable be reported on the statement of cash flows for 2014?

Accepted Answer

The answer of Selected data and additional information from the...

Question 12

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. Assuming that the book value of the property, plant and equipment disposed of during 2014 was $90, what were the cash proceeds from the disposal?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 13

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. What was the cost of investments purchased during 2014?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 14

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. Prepare the financing activities section of the company's statement of cash flows for 2014.

Accepted Answer

The answer of Selected data and additional information from the...

Question 15

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. What amount was paid to retire bonds payable during 2014?

Accepted Answer

The answer of Selected data and additional information from the...

Question 16

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. What was the amount of cash dividends paid during 2014?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 17

During 2014, the operations of a shipping company provided net cash flows of $600,000. The company made capital expenditures of $270,000 and paid dividends of $130,000.

Accepted Answer

The answer of During 2014, the operations of a shipping...

Question 18

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
  The following additional information was obtained from the company's records:
 
-Refer to Maritime Marine Services. What was the amount of accumulated depreciation on the property, plant and equipment disposed of during 2014?

Accepted Answer

The answer of Selected data from the financial statements for...

Question 19

Selected data and additional information from the company's records are presented below:
  Additional information:
 
-Refer to Mary Kay Cosmetics. Prepare the operating activities section of the statement of cash flows for 2014 assuming the direct method is used to determine net cash flow from operating activities.

Accepted Answer

The answer of Selected data and additional information from the...

Question 20

-Refer to Merry Maids Company. In 2014, why are depreciation and amortization expenses added back to net income in the operating activities section of the statement of cash flows?

Accepted Answer

The answer of 
-Refer to Merry Maids Company. In 2014,...

Quiz 11: The Statement of Cash Flows

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below: The following additional information was obtained from the company's records: -Refer to Maritime Marine Services. What was the amount paid to retire long-term debt during 2014?

-Refer to Merry Maids Company. What method is used to calculate the net cash provided by operating activities?

-Refer to Merry Maids Company. What is the significance of the positive amounts shown in both years for accounts payable and accrued liabilities?

Selected data and additional information from the company's records are presented below: Additional information: -Refer to Mary Kay Cosmetics. Prepare the investing activities section of the company's statement of cash flows for 2014.

-Refer to Merry Maids Company. Give some examples of circumstances that would result in net cash used by investing activities as shown above.

Refer to Mary Kay Cosmetics. Prepare the company's statement of cash flows for the year ended December 31, 2014. Use the direct method of determining net cash flows from operating activities.

Selected data and additional information from the company's records are presented below: Additional information: -Refer to Mary Kay Cosmetics. How would the transaction to acquire a building by signing a 20-year mortgage note payable be reported on the statement of cash flows for 2014?

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below: The following additional information was obtained from the company's records: -Refer to Maritime Marine Services. What was the cost of investments purchased during 2014?

Selected data and additional information from the company's records are presented below: Additional information: -Refer to Mary Kay Cosmetics. Prepare the financing activities section of the company's statement of cash flows for 2014.

Selected data and additional information from the company's records are presented below: Additional information: -Refer to Mary Kay Cosmetics. What amount was paid to retire bonds payable during 2014?

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below: The following additional information was obtained from the company's records: -Refer to Maritime Marine Services. What was the amount of cash dividends paid during 2014?

During 2014, the operations of a shipping company provided net cash flows of $600,000. The company made capital expenditures of $270,000 and paid dividends of $130,000.

-Refer to Merry Maids Company. In 2014, why are depreciation and amortization expenses added back to net income in the operating activities section of the statement of cash flows?