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标题: Reading 34: Understanding the Cash Flow Statement - LOS f, [打印本页]

作者: mayanfang1 时间: 2009-1-17 12:52 标题: [2009]Session 8 - Reading 34: Understanding the Cash Flow Statement - LOS f,

Q24. An analyst contemplates using the indirect methods to create the projected statement of cash flows. She decides to research the differences between the direct and indirect methods. Which of the following statements is most accurate? Under the:

A) indirect method, depreciation must be added to net income, because it is a non-cash expense.

B) direct method, depreciation must be added to cash collections because it is a non-cash expense.

C) indirect method, changes in accounts receivable are already included in the net income figure.

Q25. Determine the cash flow from operations given the following table.

Item

Amount

Cash payment of dividends

$30

Sale of equipment

$25

Net income

$25

Purchase of land

$15

Increase in accounts payable

$20

Sale of preferred stock

$25

Increase in deferred taxes

Profit on sale of equipment

$15

A) $20.

B) $45.

C) $35.

Q26. Determine the cash flow from financing given the following table.

Item

Amount

Cash payment of dividends

$30

Sale of equipment

$10

Net income

$25

Purchase of land

$15

Increase in accounts payable

$20

Sale of preferred stock

$25

Increase in deferred taxes

Profit on sale of equipment

$15

A) $15.

B) -$5.

C) $20.

Q27. A firm has net sales of $3,500, earnings after taxes (EAT) of $1,000, depreciation expense of $500, cost of goods sold (COGS) of $1,500, and cash taxes of $500. Also, inventory decreased by $100, and accounts receivable increased by $300. What is the firm's cash flow from operations?

A) $1,200.

B) $1,800.

C) $1,300.

作者: mayanfang1 时间: 2009-1-17 13:11

答案和详解如下：

A) indirect method, depreciation must be added to net income, because it is a non-cash expense.

B) direct method, depreciation must be added to cash collections because it is a non-cash expense.

C) indirect method, changes in accounts receivable are already included in the net income figure.

Correct answer is A)

The indirect method begins with net income, which has already included all cash and non-cash expenses. Therefore, under the indirect method, depreciation must be added to net income, because it is a non-cash expense.

Q25. Determine the cash flow from operations given the following table.

Item

Amount

Cash payment of dividends

$30

Sale of equipment

$25

Net income

$25

Purchase of land

$15

Increase in accounts payable

$20

Sale of preferred stock

$25

Increase in deferred taxes

Profit on sale of equipment

$15

A) $20.

B) $45.

C) $35.

Correct answer is C)

Item

Amount

Cash payment of dividends

CFF

-$30

Sale of equipment

CFI

+$25

Net income

CFO

+$25

Purchase of land

CFI

-$15

Increase in accounts payable

CFO

+$20

Sale of preferred stock

CFF

+$25

Increase in deferred taxes

CFO

+$5

Profit on sale of equipment

CFO

-$15

CFO = 25(NI) + 20(AP) + 5(Def Tax) − 15(Equip Profit) = $35

Q26. Determine the cash flow from financing given the following table.

Item

Amount

Cash payment of dividends

$30

Sale of equipment

$10

Net income

$25

Purchase of land

$15

Increase in accounts payable

$20

Sale of preferred stock

$25

Increase in deferred taxes

Profit on sale of equipment

$15

A) $15.

B) -$5.

C) $20.

Correct answer is B)

CFF = 25(Sale of Stock) − 30(Div Paid) = -$5

A) $1,200.

B) $1,800.

C) $1,300.

Correct answer is C)

Indirect Method

EAT

+1,000

Depreciation

+500

Change in Inv.

+ 100 a source

Change in Accts. Rec.

(300) a use

CFO

1,300

Direct Method

Net Sales

+3,500

Change in Accts. Rec.

(300) a use

COGS

(1,500)

Cash Taxes

(500)

Change in Inv.

+100 a source

CFO

1,300

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