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Belk Corporation's balance sheet appears below: Belk Corporation's balance sheet appears below: The net income for the year was $126.Cash dividends were $21.The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method. The net income for the year was $126.Cash dividends were $21.The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.

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Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows, a decrease in inventory would be added to net income.

A) True
B) False

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Free cash flow decreases when a company issues common stock for cash.

A) True
B) False

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Based solely on the information above, the net cash provided by (used in) investing activities on the statement of cash flows would be:


A) $110,000
B) $55,000
C) $150,000
D) $130,000

E) None of the above
F) C) and D)

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When computing the net cash provided by operating activities under the indirect method on the statement of cash flows, a decrease in common stock would be subtracted from net income.

A) True
B) False

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The net cash provided by (used in) operating activities for the year was:


A) $117
B) $45
C) $36
D) $116

E) A) and B)
F) All of the above

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Marbry Corporation's balance sheet and income statement appear below: Marbry Corporation's balance sheet and income statement appear below: Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was: A) $4 B) ($22) C) ($5) D) ($21) Marbry Corporation's balance sheet and income statement appear below: Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was: A) $4 B) ($22) C) ($5) D) ($21) Cash dividends were $21.The company did not issue any bonds or repurchase any of its own common stock during the year.The net cash provided by (used in) financing activities for the year was:


A) $4
B) ($22)
C) ($5)
D) ($21)

E) A) and D)
F) C) and D)

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Excerpts from Deblois Corporation's comparative balance sheet appear below: Excerpts from Deblois Corporation's comparative balance sheet appear below: Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? A) The change in Accounts Payable is added to net income; The change in Accrued Liabilities is subtracted from net income B) The change in Accounts Payable is added to net income; The change in Accrued Liabilities is added to net income C) The change in Accounts Payable is subtracted from net income; The change in Accrued Liabilities is added to net income D) The change in Accounts Payable is subtracted from net income; The change in Accrued Liabilities is subtracted from net income Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method?


A) The change in Accounts Payable is added to net income; The change in Accrued Liabilities is subtracted from net income
B) The change in Accounts Payable is added to net income; The change in Accrued Liabilities is added to net income
C) The change in Accounts Payable is subtracted from net income; The change in Accrued Liabilities is added to net income
D) The change in Accounts Payable is subtracted from net income; The change in Accrued Liabilities is subtracted from net income

E) A) and C)
F) B) and D)

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The net cash provided by (used in) investing activities for the year was:


A) $74
B) $(74)
C) $(72)
D) $72

E) B) and C)
F) A) and D)

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Illies Corporation's comparative balance sheet appears below: Illies Corporation's comparative balance sheet appears below: The company did not dispose of any property, plant, and equipment during the year.Its net income for the year was $5,000 and its cash dividends were $4,000.The company did not issue any bonds payable or purchase any of its own common stock during the year.Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are: A) net cash provided by (used in) operating activities, $33,000; net cash provided by (used in) financing activities, $(1,000) B) net cash provided by (used in) operating activities, $35,000; net cash provided by (used in) financing activities, $(7,000) C) net cash provided by (used in) operating activities, $33,000; net cash provided by (used in) financing activities, $(7,000) D) net cash provided by (used in) operating activities, $35,000; net cash provided by (used in) financing activities, $(1,000) The company did not dispose of any property, plant, and equipment during the year.Its net income for the year was $5,000 and its cash dividends were $4,000.The company did not issue any bonds payable or purchase any of its own common stock during the year.Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:


A) net cash provided by (used in) operating activities, $33,000; net cash provided by (used in) financing activities, $(1,000)
B) net cash provided by (used in) operating activities, $35,000; net cash provided by (used in) financing activities, $(7,000)
C) net cash provided by (used in) operating activities, $33,000; net cash provided by (used in) financing activities, $(7,000)
D) net cash provided by (used in) operating activities, $35,000; net cash provided by (used in) financing activities, $(1,000)

E) A) and D)
F) B) and D)

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The following events occurred last year at Dorder Corporation: The following events occurred last year at Dorder Corporation: Based on the above information, the net cash provided by (used in) investing activities for the year on the statement of cash flows would be: A) $(21,000) B) $(12,000) C) $(32,000) D) $(69,000) Based on the above information, the net cash provided by (used in) investing activities for the year on the statement of cash flows would be:


A) $(21,000)
B) $(12,000)
C) $(32,000)
D) $(69,000)

E) None of the above
F) All of the above

Correct Answer

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The net cash provided by (used in) operating activities last year was:


A) $105,000
B) $58,000
C) $130,000
D) $152,000

E) A) and D)
F) All of the above

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