ACC 560 MART Great Stories /acc560mart.com ACC 560 MART Great Stories /acc560mart.com | Page 66

Which of the following would not be an adjustment to net
income using the indirect method?
Question 6
Jean‘s Vegetable Market had the following transactions during
2017:
1. Issued $50,000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $22,000.
3. Acquired land by issuing common stock of par value $50,000.
4. Declared and paid a cash dividend of $7,000.
5. Sold a long-term investment (cost $3,000) for cash of $6,000.
6. Acquired an investment in IBM stock for cash of $10,000.
What is the net cash provided by financing activities?
Question 7
The statement of cash flows should help investors and creditors
assess each of the following except the
Question 8
Significant noncash transactions would not include
Question 9
In calculating net cash provided by operating activities using
the indirect method, an increase in prepaid expenses during a
period is
Question 10
Lending money and collecting the loans are