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32 Cards in this Set
- Front
- Back
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Increases in accounts receivable, inventory and prepaid items must be _________ to (from) net income.
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Decreases in accounts payable and accrued liabilities must be __________.
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Gains on sales of plant assets should be __________.
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Collection of principal on loans belongs in the _________ section.
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Purchases of stock of other companies belong in the __________ section.
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Collection of interest on loans belong in the _________ section.
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Cash paid to purchase treasury stock belongs in the _________ section.
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Cash dividends declared but NOT paid should be shown in the _________ section.
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To prepare the statement of cash flows, we must have comparative ___________ and a(n) __________ statement.
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Under the direct method we are not concerned with the expiration of prepaid items but rather with the ____________ of these items.
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Under the indirect method, Accounts Receivable and its related allowance should be ________.
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Significant noncash transactions should be disclosed in a _________.
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Is a Gain on Sale of an assets Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is an Increase in Accounts Receivable Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is a Decrease in Prepaid Insurance Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is Depreciation Expense Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is an Increase in Accounts Payable Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is Uncollectible accounts expense Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is a Decrease in Wages Payable Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is Amortization of a bond premium Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is an Increase in Inventory Deducted from or Added to Net Income in order to compute cash flow from operations?
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Is Amortization of a patent Deducted from or Added to Net Income in order to compute cash flow from operations?
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Classify – A plant was sold for $550,000
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Classify – A profit of 75,000 was reported
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Classify – Long-term bonds were retired
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Classify – Cash dividends of $420,000 were paid
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400,000 shares of preferred stock were sold
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A new high-tech robotics unit was purchased
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A long-term note payabe was issued
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A 50% interest in a company was purchased
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A loss for the year was reported
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Additional common stock was sold
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