A company paid $4,000 cash on the principal of a bank loan. How should this be classified on the statement of cash flows? a. operating activity b. investing activity c. financing activity d. none of the above
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- 5. Which of the following is representative of typical cash flows from operating activities? A. Proceeds from collecting the principal amount of loans receivable from subsidiary companies. B. Repayment of mortgage loans. ) C. Proceeds from the issuance of bonds payable. OD. Payments to acquire equity securities of other companies. O E. Receipts of cash dividends and interest on notes receivable.Which of the following is considered cash for financial reporting purposes? a. Accounts receivable.b. Investments with maturity dates greater than three months.c. Checks received from customers.d. Accounts payable.refer to the photo
- GAAP standards allow financial statements to answer the questions that investors or others might have. Which financial statement answers the question, "How much money did the company make from operations in a given period?" A. The balance sheet B. The income statement C. The statement of cash floHow can you tell by looking at the Statement of Cash Flows of a company that the company collected its accounts receivable?1. which of the following transactions will result in the increase and decrease in liability? a. payment of loan by installmentb. borrowed money from the bankc. issued a promissory note in payment of a liabilityd. request for an extension of the date of payment 2. a statement which shows where the money of the business is obtained and used? a. statement of financial positionb. statement of cash flowsc. cash budgetd. statement of revenues and expenses
- Which of the following sentences regarding the statement of cash flows is false?a. The statement of cash flows describes the company’s cash receipts and cash paymentsfor a period of time.b. The statement of cash flows reconciles the beginning and ending cash balances shownon the balance sheet.c. The statement of cash flows reports cash flows in three categories: cash flows frombusiness activities, cash flows from investing activities, and cash flows from financingactivities.d. The statement of cash flows may be used by creditors to assess the creditworthiness of acompany.What are the correct answer for the questions 1,2,3 and 4?Which section of the statement of cash flows shows cash inflows and outflows from the issue and repayment of loans? A. Fiancing B. Operating C. Investing D. None of the Above
- 1. What is the definition of a total cash received during the year? How it is important to the to the financial accounting information? 2. What is a cash payment made on accounts payable and, how this is related to the accounting financial information?Indicate whether each of the following statements is true or false. a) Loaning cash to another company is considered a financing activity on the statement of cash flows. The major difference between treating the extension of credit to a customer as accounts receivable and treating it as notes receivable b) is the existence of interest. c) In a promissory note, the payee issues the note to the maker. d) Interest rates are always stated on an annual basis, regardless of the length of the note. e) Accruing interest on a note receivable is considered an asset use transaction.Under ASPE the receipt of interest on loans would be reported on a statement of cash flows under www.OA. investing activities OB. operating activities OC. financing activities OD. no activities because interest received on loans would not be reported on a statement of cash flows