Week 15 iClicker Solutions

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University of Illinois, Chicago *

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210

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Finance

Date

Feb 20, 2024

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pptx

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Uploaded by marnoux11

iClicker Net Income & Cash Flows, select one A company’s income statement shows a Net Loss for the year. On the statement of cash flows, Net Cash from Operations is: A.Negative B.Positive C.Equal to Net Income D.Need more information

iClicker Direct Cash Flows, select one A company recorded more revenues on an accrual basis than cash collections from customers. Which of the following must be true? A.Accounts receivable increased during the period B.Accounts receivable decreased during the period C.Accounts payable increased during the period D.Accounts payable decreased during the period

iClicker Direct Cash Flows, select one If expenses on an accrual basis are greater than expenses paid in cash, it is likely that A.The balance in accrued liabilities payable has decreased B.The balance in accrued liabilities payable has increased C.The balance in accrued liabilities payable has not changed D.Need more information to answer the question

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iClicker Sale of PPE, select one A building with a book value of $100,000 is sold for $77,000 cash, resulting in a $23,000 loss. What is the effect on the Statement of Cash Flows? A.$23,000 is added to the Operating Activities section (indirect method). B.$23,000 is subtracted in the Investing Activities section. C.$77,000 is subtracted in the Investing Activities section. D.$77,000 is added to the Investing Activities section. E.Both A. and D.

iClicker Investing Section, select one Which of the following would result in an inflow in the investing section on the statement of cash flows? A.Payment on long-term debt B.Long-term debt issued C.Equipment purchased with cash D.Equipment sold for cash

iClicker Non-Cash transactions, select one Which of the following would be reported in the note regarding non-cash transactions that appears after the body of the Statement of Cash Flows? A.Land purchased by issuing a long-term note B.An owner contributing property in exchange for common stock C.Equipment purchased with common stock D.All of the above

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