ACCT.ACBSP.APC.24 - Statement of Cash Flows ACCREDITING STANDARDS: - Measurement BUSPROG: Analytic Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of the year. The amount of cash for the payment of dividends during the year is a. $50,000 b. $40,000 c. $55,000 d. $35,000 b ANSWER: Moderate DIFFICULTY: Bloom’s: Applying ACCT.WARD.16.16-02 - 16-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.24 - Statement of Cash Flows ACCREDITING STANDARDS: ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic On the statement of cash flows, a $7,500 gain on the sale of fixed assets would be added to net income in converting the net income reported on the income statement to cash flows from operating activities deducted from net income in converting the net income reported on the income statement to cash flows from operating activities added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends b ANSWER: Easy DIFFICULTY: Remembering ACCT.WARD.16.16-02 - 16-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.24 - Statement of Cash Flows ACCREDITING STANDARDS: ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A business issues 20-year bonds payable in exchange for preferred stock. This transaction would be reported on the statement of cash flows in a separate schedule the cash flows from financing activities section the cash flows from investing activities section the cash flows from operating activities section a ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.16-02 - 16-02 LEARNING OBJECTIVES:
ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows - Measurement BUSPROG: Analytic Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of the year. The amount of cash for the payment of dividends during the year is a. $50,000 b. $40,000 c. $55,000 d. $35,000 ANSWER: b DIFFICULTY: Moderate Bloom’s: Applying LEARNING OBJECTIVES: ACCT.WARD.16.16-02 - 16-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic On the statement of cash flows, a $7,500 gain on the sale of fixed assets would be added to net income in converting the net income reported on the income statement to cash flows from operating activities deducted from net income in converting the net income reported on the income statement to cash flows from operating activities added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends ANSWER: b DIFFICULTY: Easy Remembering LEARNING OBJECTIVES: ACCT.WARD.16.16-02 - 16-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.24 - Statement of Cash Flows ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A business issues 20-year bonds payable in exchange for preferred stock. This transaction would be reported on the statement of cash flows in a separate schedule the cash flows from financing activities section the cash flows from investing activities section the cash flows from operating activities section ANSWER: a DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.16-02 - 16-02
Test-Bank-for-Managerial-Accounting-13th-Edition-by-Warren.docx