Chapter 14 Homework Solution

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Chapter 14 Practice Test

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1.

I Question #1 (of 8)

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10.00 points

Tip Top Company recorded the following activity for the year just ended:

Proceeds from sale of plant equipment

Proceeds from issuance of common stock

Purchase of plant equipment

Notes issued to creditors for borrowed funds

Dividends received from investments

Dividends paid to stockholders

$960,000

480,000

272,000

176,000

139,200

48,000

The net cash provided by financing activities for the year was:

0 $656,000.

@ $608,000.

0 $704,000.

0 $480,000.

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Chapter 14 Practice Test

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2.

I Question #2 (of 8)

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10.00 points

LPL Company recorded the following events for the year just ended.

Dividends paid to shareholders

Sale of bonds issued by other companies

Collection of a loan made to a subsidiary

Retirement of preferred stock

Payment of deferred taxes

Interest paid on notes payable

$184,500

163,500

120,800

109,000

97,200

75,400

The net change in cash resulting from investing activities for the year was:

0

$(181,800).

@ $284,300.

0

0

$42,700.

$11,800.

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Chapter 14 Practice Test

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3.

I Question #3 (of 8)

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10.00 points

When using the indirect method to prepare the statement of cash flows, depletion expense should be

presented as:

0

0

0

a deduction from net income.

a cash flow from financing activities.

an investing and financing activity not affecting cash.

® an addition to net income.

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Chapter 14 Practice Test

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4.

I Question #4 (of 8)

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