Question: Please select the correct answer, need this done in 20 minutes to check against my answer. Thanks. Question 1 Not yet answered Points out of

Please select the correct answer, need this done in 20 minutes to check against my answer. Thanks.

Please select the correct answer, need this done in 20 minutes to

Question 1 Not yet answered Points out of 2.00 Flag question Question text Indicate which item is added in the Operating section of the Statement of Cash Flows (indirect method): Select one: a. Decrease in Accounts Payable b. Gain on Sale of Fixed Assets c. Net decrease in trading securities d. Net increase in available-for-sale securities e. Dividends declared Question 2 Not yet answered Points out of 2.00 Flag question Question text Indicate which item is subtracted in the Operating section of the Statement of Cash Flows (indirect method): Select one: a. Increase in Accounts Payable b. Gain on Sale of Fixed Assets c. Net decrease in trading securities d. Net increase in available-for-sale securities e. Dividends declared Question 3 Not yet answered Points out of 2.00 Flag question Question text The Celebrity Company sold equipment with a cost of $20 and a book value of $15. The income statement reported a loss on sale of $2. The Operations section of the Statement of Cash Flows (indirect method) will include a(n) Select one: a. Addition of $2 b. Subtraction of $5 c. Subtraction of $2 d. Addition of $5 e. Subtraction of $7 Question 4 Not yet answered Points out of 2.00 Flag question Question text The Carival Company sold a machine with a book value of $45 and original cost of $50. The income statement reported a gain of $7. The Investment section of the Statement of Cash Flows will include a(n) Select one: a. Addition of $38 b. Subtraction of $59 c. Addition of $45 d. Addition of $52 e. Subtraction of $45 Question 5 Not yet answered Points out of 2.00 Flag question Question text The Steele Company's 2017 Net Income is $1,000. The following items were used in compiling the Statement of Cash Flows (indirect method): Net Cash provided by Investing Activities is: Select one: a. $1 b. $10 c. $8 d. $6 e. $14 Question 6 Not yet answered Points out of 2.00 Flag question Question text The Divirgil Company Net Income is $100. Given the following items: Change in Cash for the year is: Select one: a. $74 b. $92 c. $82 d. $84 e. $78 Question 7 Not yet answered Points out of 2.00 Flag question Question text Which would be subtracted in the Operating Activities section of the Statement of Cash Flows? Select one: a. Proceeds from Condemnation of Land b. Stock split c. Cash paid for unexpected major equipment repairs d. Investment income recorded using the equity method Question 8 Not yet answered Points out of 2.00 Flag question Question text A statement of cash flows, including footnotes, typically would not include which item? Select one: a. Capital stock issued at an amount greater than par value b. Issuance of stock in exchange for new equipment c. Cash dividends declared d. A purchase of treasury stock e. A building purchase; mortgage obtained from financial institution Question 9 Not yet answered Points out of 2.00 Flag question Question text Net cash flow from operating activities for 2011 Altoona Corporation was $300,000. The following items are reported on the financial statements for 2011: Based only on the information above, Altoona's Net Income for 2011 was: Select one: a. $256,000 b. $344,000 c. $296,000 d. $304,000 e. $294,000 Question 10 Not yet answered Points out of 2.00 Flag question Question text The Lucido Company's 2018 Net Income is $170. Balance Sheets are given: Lucido sold a machine for $122 in 2018. Cost was $200; book value was $120. Net Cash Used for Financing is: Select one: a. $133 b. $41 c. $55 d. $49 e. $57

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