Post ACC211 Unit 8 Chapter 12 Quiz Latest 2017 August

The following
events occurred last year at Dorder Corporation:

Purchase of plant and
equipment

$26,000

Sale of long-term
investment

$11,000

Dividends received on
long-term investments

$7,000

Paid off bonds payable

$14,500

Depreciation expense

$13,000

Based on the above information, the cash provided (used)
by investing activities for the year on the statement of cash flows would net
to:

Last year Burch Corporation’s cash account decreased by
$26,000. Net cash provided by investing activities was $8,100. Net cash
used in financing activities was $24,000. On the statement of cash flows, the
net cash flow provided by (used in) operating activities was:

McCorey
Corporation recorded the following events last year:

Repurchase by the
company of its own common stock

$27,000

Sale of long-term
investment

$46,000

Interest paid to
lenders

$8,500

Dividends paid to the
company’s shareholders

$56,000

Collection by McCorey
of a loan made to another company

$32,000

Payment of taxes to
governmental bodies

$18,500

On the statement of cash flows, some of these events are
classified as operating activities, some are classified as investing
activities, and some are classified as financing activities.

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

Financial
statements of Rukavina Corporation follow:

Rukavina
Corporation
Comparative Balance Sheet

Ending
Balance

Beginning
Balance

Assets:

Cash and cash
equivalents

$45

$42

Accounts receivable

108

93

Inventory

67

52

Property, plant and
equipment

843

690

Less: accumulated
depreciation

372

320

Total assets

$691

$557

Liabilities and
stockholders’ equity:

Accounts payable

$85

$94

Bonds payable

200

320

Common stock

119

93

Retained earnings

287

50

Total liabilities and
stockholders’ equity

$691

$557

Income Statement

Sales

$810

Cost of goods sold

284

Gross margin

526

Selling and
administrative expenses

105

Net operating income

421

Income taxes

149

Net income

$272

Cash dividends were $35. The company did not dispose of
any property, plant, and equipment. It did not issue any bonds payable or
repurchase any of its own common stock. The following questions pertain to
the company’s statement of cash flows.

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

Comparative
Balance Sheet

Ending
Balance

Beginning
Balance

Assets:

Cash and cash equivalents

$34

$29

Accounts receivable

32

36

Inventory

53

66

Property, plant and equipment

554

480

Less accumulated depreciation

208

206

Total assets

$465

$405

Liabilities and stockholders’
equity:

Accounts payable

$41

$50

Accrued liabilities

17

16

Income taxes payable

28

30

Bonds payable

217

200

Common stock

75

70

Retained earnings

87

39

Total liabilities and equity

$465

$405