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Exam 11: The Statement of Cash Flows

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Question 111

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Free cash flow is equal to net cash flow from operating activities minus capital expenditures and dividends.

A) True
B) False

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Question 112

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The collection of accounts receivable results in a cash ____________________ reported in the operating activities section of the statement of cash flows using the indirect method.

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Question 113

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Selected information from the company's financial records is presented below: During 2014, the company sold equipment with a cost of $50,000 and accumulated depreciation of $30,000. A gain of $10,000 was recognized on the sale of the equipment. This was the only equipment sale during the year. -Refer to Metalcrafts, Inc. What was depreciation expense for 2014?

MATCHING Use the following codes to indicate how the cash flow effect, if any, of each transaction would be reported on a statement of cash flows if the operating activities section is prepared using the direct method. (Choices may be used more than once.) a.Inflow from operating activity b.Outflow from operating activity c.Inflow from investing activity d.Outflow from investing activity e.Inflow from financing activity f.Outflow from financing activity g.Noncash investing and financing activity h.Not reported on statement of cash flows -Paid employee insurance expense.

A company reported the following information: Assuming all merchandise purchases were on account, how much cash was paid to suppliers for merchandise purchases during 2014?

Which of the following activities is most likely to have a cash flow effect?