答案和详解如下： 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. 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 | $5 | 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 | $5 | 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 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. 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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发表于 2009-1-17 12:52
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