Question Details

Accounts receivable arising from sales to customers 



	1.	Joy Elle- Vegetable Market had the following transactions during 2011:
1.	Issued $50,000 of par value ordinary shares for cash.
2.	Repaid a 6 year note payable in the amount of $22,000. 
3.	Acquired land by issuing ordinary shares of par value $100,000.
4.	Declared and paid a cash dividend of $2,000. 
5.	Sold a non-current investment (cost $63,000) for cash of $6,000. 
6.	Acquired an investment in IBM shares for cash of $12,000. 
What is the net cash provided by investing activities?
a.	$12,000
b.	$32,000
c.	($6,000)
d.	$6,000

2.	Miller Company purchased treasury shares with a cost of $15,000 during 2011. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $866,000.  Cash flows from financing activities for 2011 total
a.	$846,000 net cash inflow.
b.	$861,000 net cash inflow.
c.	$866,000 net cash outflow.
d.	$831,000 net cash inflow.


	3.	Cline Company issued ordinary shares for proceeds of $372,000 during 2011. The company paid dividends of $66,000 and issued a non-current note payable for $90,000 in exchange for equipment during the year. The company also purchased treasury shares that had a cost of $14,000. The financing section of the statement of cash flows will report net cash inflows of
a.	$292,000.
b.	$404,000.
c.	$306,000.
d.	$358,000.


	4.	In Gentry Company, land decreased $140,000 because of a cash sale for $140,000, the equipment account increased $40,000 as a result of a cash purchase, and Bonds Payable increased $130,000 from issuance for cash at face value. The net cash provided by investing activities is
a.	$140,000.
b.	$230,000.
c.	$100,000. 
d.	$110,000.


	5.	Accounts receivable arising from sales to customers amounted to ¥800,000 and ¥700,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was ¥2,800,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
a.	¥2,800,000.
b.	¥2,900,000.
c.	¥3,500,000.
d.	¥2,700,000.




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