Chapter 14 2 Waldrop Corporations Comparative Balance Sheet Appears

Chapter 14 – Statement of Cash Flows

41. Waldrop Corporation’s comparative balance sheet appears below:

The company did not dispose of any property, plant, and equipment during the year. Its net

income for the year was $4,000. The net cash provided by operating activities is:

Chapter 14 – Statement of Cash Flows

42. The following events occurred last year at Dewhurst Company:

Based on the above information, the cash provided (used) by investing activities for the year

on the statement of cash flows would net to:

Chapter 14 – Statement of Cash Flows

43. More Company’s net income last year was $37,000. The company paid a cash dividend of

$2,000 and did not sell or retire any property, plant, and equipment last year. Changes in

selected balance sheet accounts for the year appear below:

Based solely on this information, the net cash provided by operating activities under the

indirect method on the statement of cash flows would be:

Chapter 14 – Statement of Cash Flows

44. The most recent balance sheet and income statement of Swanigan Corporation appear

below:

Cash dividends were $18. The company did not sell or retire any property, plant, and

equipment during the year. The net cash provided by (used in) operating activities for the year

was:

Chapter 14 – Statement of Cash Flows

45. Excerpts from Harris Corporation’s comparative balance sheet appear below:

Which of the following is the correct treatment within the operating activities section of the

statement of cash flows using the indirect method?

Chapter 14 – Statement of Cash Flows

46. Nordquist Company’s net income last year was $33,000. The company did not sell or

retire any property, plant, and equipment last year. Changes in selected balance sheet accounts

for the year appear below:

Based solely on this information, the net cash provided by operating activities under the

indirect method on the statement of cash flows would be:

Chapter 14 – Statement of Cash Flows

47. Excerpts from Dibello Corporation’s comparative balance sheet appear below:

Which of the following is the correct treatment within the operating activities section of the

statement of cash flows using the indirect method?

Chapter 14 – Statement of Cash Flows

48. Mccloe Corporation’s balance sheet and income statement appear below:

Cash dividends were $9. The company did not issue any bonds or repurchase any of its own

common stock during the year. The net cash provided by (used in) financing activities for the

year was:

Chapter 14 – Statement of Cash Flows

49. Cannedy Corporation’s most recent balance sheet appears below:

The company’s net income for the year was $74 and it did not sell or retire any property,

plant, and equipment during the year. Cash dividends were $21. The net cash provided by

(used in) investing activities for the year was:

Chapter 14 – Statement of Cash Flows

50. Cezar Corporation’s comparative balance sheet appears below:

The company did not dispose of any property, plant, and equipment during the year. Its net

income for the year was $10,000 and its cash dividends were $4,000. The company did not

retire any bonds payable or issue any common stock during the year. Its net cash provided by

operating activities and net cash used in financing activities are:

Chapter 14 – Statement of Cash Flows

51. Dooling Corporation’s balance sheet and income statement appear below:

Cash dividends were $14. The company sold equipment for $15 that was originally purchased

for $11 and that had accumulated depreciation of $3. The net cash provided by (used in)

investing activities for the year was:

Chapter 14 – Statement of Cash Flows

52. Gorovitz Corporation’s most recent balance sheet appears below:

The company’s net income for the year was $86 and it did not issue any bonds or repurchase

any of its common stock during the year. Cash dividends were $23. The net cash provided by

(used in) financing activities for the year was:

Chapter 14 – Statement of Cash Flows

53. Kahn Company is a merchandiser that reported net income of $90,000. Additional

information follows:

Based on this information, under the indirect method the cash provided by operating activities

on the statement of cash flows would be:

Chapter 14 – Statement of Cash Flows

54. Hanzely Corporation’s balance sheet and income statement appear below:

Cash dividends were $10. The company sold equipment for $17 that was originally purchased

for $11 and that had accumulated depreciation of $9. The net cash provided by (used in)

operating activities for the year was:

Chapter 14 – Statement of Cash Flows