Which of the following describes the statement of cash flows?a) It shows a company's financial position.b) It reports cash inflows and outflows for operating, investing, and financingactivities.c) It lists all company assets and liabilities.d) It lists all sources of company revenue.

Explanation of Statement of Cash Flows:The Statement of Cash Flows is a financial report that…

Answered: Which of the following describes the…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 26GI

See similar textbooks

Similar questions

Use the following excerpts from Kirsten Companys Statement of Cash Flows and other financial records to determine the companys free cash flow.
Classification of Cash Flows A company's statement of cash flows and the accompanying schedule of investing and financing activities not affecting cash may contain the following major sections: a. Operating Activities b. Investing Activities c. Financing Activities d. Investing and Financing Activities not Affecting Cash The following is a list of items that might appear on a company's statement of cash flows or in the accompanying schedule. Required: Using the letters A through D, indicate in which section of the statement of cash flows (or the accompanying schedule) the preceding item would most likely be classified. After each letter, indicate with a plus (+) or a minus () whether the item would be reported on the statement (or the accompanying schedule).
Given the following information, convert Robin Companys salaries expense from its income statement into payments to employees for its statement of cash flows.
What categories of activities are reported on the statement of cash flows? Does it matter in what order these sections are presented?
List the three operating cash inflows that a company reports under the direct method.
Use the following excerpts from Nutmeg Companys financial records to determine net cash flows from operating activities and net cash flows from investing activities.
Use the following excerpts from Grenada Companys financial records to determine net cash flows from operating activities and net cash flows from investing activities.
Which is the proper order of the sections of the statement of cash flows? A. financing, investing, operating B. operating, investing, financing C. investing, operating, financing D. operating, financing, investing
Use the following information from Jumper Companys financial statements to determine operating net cash flows (indirect method).
Would there ever be activities that relate to operating, investing, or financing activities that would not be reported in their respective sections of the statement of cash flows? Explain. If a company had any such activities, how would they be reported in the financial statements, if at all?
Investing activities are those transactions dealing with the exchange of cash between the company and its stockholders and creditors.

Recommended textbooks for you

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Which of the following describes the statement of cash flows? a) It shows a company's financial position. b) It reports cash inflows and outflows for operating, investing, and financing activities. c) It lists all company assets and liabilities. d) It lists all sources of company revenue.