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Indicate where the event purchase of land and a building with a
mortgage would appear, if at all, on the indirect statement of cash
flows.
Question 2
Generally, the most important category on the statement of cash flows
is cash flows from
Question 3
Each of the following is an example of a significant noncash activity
except
Question 4
If a gain of $12,000 is incurred in selling (for cash) office equipment
having a book value of $110,000, the total amount reported in the cash
flows from investing activities section of the statement of cash flows is
Question 5
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.