question archive Q1) Flora Co

Q1) Flora Co

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Q1) Flora Co. had a net income of $90,000 during the year. The following information is available for the year:

Cash $50,000 increase

Accounts Receivable 6,000 decrease

Accounts Payable 2,000 decrease

Depreciation Expense 7,000

Dividends Paid 11,000

Prepaid Insurance 3,500 increase

Unearned Revenue 2,200 increase

What was the amount of cash provided by operating activities?

Group of answer choices

A: $49,700

B: $85,700

C: $94,300

D: $99,700

Q2: One hundred (100) shares of treasury stock that cost $12 per share are sold for $15 per share. How is this sale of treasury cost presented in the Statement of Cash Flows when the indirect method is used to determine cash from operating activities?

Group of answer choices

A: The $300 gain is subtracted from net income in determining cash flow from operating activities and $1,500 is presented as an inflow from financing activities.

B: The $300 gain is subtracted from net income in determining cash flow from operating activities and $1,200 is presented as an inflow from investing activities.

C: $1,500 is presented as an inflow from investing activities.

D: $1,500 is presented as an inflow from financing activities.

Option 1

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