Liberty ACCT 211 Learnsmart Assignment 12 Answers Complete Solutions
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Which of the following transaction would be reported under cash flows from operating activities? Select all that apply.
Which of the following items are classified as noncash investing and financing activities?
A gain from the sale of a building would be ___ to (from) net income when computing cash flow from operations, using the indirect method.
_____ activities include those transactions and events that affect long-term liabilities and equity, such as obtaining cash from issuing debt and distributing cash to owners.
Which of the following items would be reported under financing activities on the statement of cash flows?
Lakeview Inc.’s statement of cash flows reports financing activities with payments that exceed receipts. This means that Lakeview had a net cash _______ from financing activities.
Which of the following would be included in the operating section when preparing the statement of cash flows using the indirect method?
The _____ method separately lists each major item of operating cash receipts and each major item of operating cash payments. The cash payments are subtracted from cash receipts to determine the net cash provided (used) by operating activities.
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In a statement of cash flows, cash received from the sale of a building would be classified under “cash flows from __________ activities.”
The _____ method of reporting the statement of cash flows reports net income and then adjusts it for items necessary to obtain net cash provided or used by operating activities.
Which of the following items would be added to net income when reporting cash flows from operating activities, using the indirect method?
The statement of cash flows explains the difference between beginning and ending balances of cash and cash equivalents. A cash equivalent must satisfy which of the following criteria?
Which of the following items would be correct adjustments to net income to arrive at cash flows from operating activities, using the indirect method?
An increase in wages payable would be to (from) net income, when computing cash flows from operations, using the indirect method.
A(n) activity includes those transactions and events that determine net income, including the purchase of merchandise, the sale of goods and services to customers, and expenditures to operate the business.
Information on the statement of cash flows helps us answer all of the following questions except:
Cash flows from financing activities identifies cash receipts and payments related to which of the following types of accounts?
At the beginning of 2018, Rex Co. showed a debit balance in the cash account of $20,500. Total debits to this account during the year were $45,000, and total credits during the year were $35,000. The net ______ in cash for 2018 equals $_____________.
There are five important steps to preparing a statement of cash flows. Rank the steps in order from first to last.
Collecting money for notes receivable would be reported on the statement of cash flows as a(n) ___________ activity.
Which of the following transactions would not be classified as an operating activity on the statement of cash flows?
Which of the following items would be adjusted to net income when computing cash flows from operating activities, using the indirect method?