1级BOOK3 97页12题 The following information was available for the Saunders Company for 1990:

Net Income $132 Exchanged equity for debt $34 Amortization of bond premium $18 Decrease in inventory $42 Increase in accounts payable $30 Retirement of common stock $45 Payment of dividends $18 Depreciation expense $25

What was Saunder's net cash flows from operations?

A $169 B $ 211 C $245 D $246

89页 indirect method 有4 steps ，其中 step 2 : subtract gains or add losses that result from financing or investment cash flows。题目中的 Retirement of common stock 和payment of dividends 就属于 financing cash flows , 但是答案没有将他们考虑在内，而理由就是 Retirement of common stock and payment of dividends are both financing cash flows. 这不是前后矛盾吗？

答案里仅有4项（除net income外）： Amortization of bond premium ，Decrease in inventory ， Increase in accounts payable ， Depreciation expense 。但我觉得按 step 2 的说法，Retirement of common stock 和payment of dividends 也应该包含在内。

请教老师，非常感谢！

其中 step 2 : subtract gains or add losses that result from financing or investment cash flows。 这句话是对的，但是，请注意，这里是gains 和losses,但是Retirement of common stock 和payment of dividends 没有涉及到任何的gains 和losses 而且，请注意， Retirement of common stock 和payment of dividends 没有影响到Net Income 的大小， Retirement of common stock 是资产与权益之间的变化，payment of dividends 是在净利润之后的分配，这个题目只要考虑 Amortization of bond premium $18 Decrease in inventory $42 Increase in accounts payable $30 Depreciation expense $25

就可以了。

[此贴子已经被作者于2006-6-23 16:52:14编辑过]