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Financial Accounting Ch13 Cash Flows Quiz
2014 2013 Increase/decreaseAccounts Payable
6
,
000
6
,
000
9,000
(
3
,
000
)
A
c
c
r
u
e
d
L
i
a
b
i
l
i
t
i
e
s
3
,
000
1
,
500
1
,
500
L
o
n
g
−
T
e
r
m
N
o
t
e
s
P
a
y
a
b
l
e
126
,
000
135
,
000
(
9
,
000
)
T
o
t
a
l
l
i
a
b
i
l
i
t
i
e
s
(
3
,
000
)
A
c
c
r
u
e
d
L
i
a
b
i
l
i
t
i
e
s
3
,
000
1
,
500
1
,
500
L
o
n
g
−
T
e
r
m
N
o
t
e
s
P
a
y
a
b
l
e
126
,
000
135
,
000
(
9
,
000
)
T
o
t
a
l
l
i
a
b
i
l
i
t
i
e
s
135,000
145
,
500
145
,
500
(10,500)Additional information provided by the company includes the following:During 2014, the company repaid
60
,
000
o
f
L
o
n
g
−
T
e
r
m
N
o
t
e
s
P
a
y
a
b
l
e
.
D
u
r
i
n
g
2014
,
t
h
e
c
o
m
p
a
n
y
b
o
r
r
o
w
e
d
60
,
000
o
f
L
o
n
g
−
T
e
r
m
N
o
t
e
s
P
a
y
a
b
l
e
.
D
u
r
i
n
g
2014
,
t
h
e
c
o
m
p
a
n
y
b
o
r
r
o
w
e
d
51,000 on a new Long-Term Note Payable.With the help of T-account format, analyze the transactions affecting the Long-Term Notes Payable account.
Report Question
0%
Answer: Net Cash from operating activities
25
,
000
L
e
s
s
:
C
a
s
h
u
s
e
d
i
n
L
o
n
g
−
T
e
r
m
A
s
s
e
t
s
0
L
e
s
s
:
C
a
s
h
d
i
v
i
d
e
n
d
s
10
,
000
F
r
e
e
C
a
s
h
F
l
o
w
25
,
000
L
e
s
s
:
C
a
s
h
u
s
e
d
i
n
L
o
n
g
−
T
e
r
m
A
s
s
e
t
s
0
L
e
s
s
:
C
a
s
h
d
i
v
i
d
e
n
d
s
10
,
000
F
r
e
e
C
a
s
h
F
l
o
w
15,000
0%
Answer: TRUEExplanation: Retained EarningsBeginning Balance
82
,
000
A
d
d
:
N
e
t
I
n
c
o
m
e
f
o
r
t
h
e
y
e
a
r
58
,
000
=
82
,
000
A
d
d
:
N
e
t
I
n
c
o
m
e
f
o
r
t
h
e
y
e
a
r
58
,
000
=
140,000Less: Retained Earnings for 2015 (108,000)Dividend Declared =$32,000
0%
Answer: FALSE
0%
Long Term Notes Payable______________________________________Dr CrRepay60,000 l 135,000 Beg l 51,000Borrowing ________________l__________________ l 126,000 Ending
Refer to the following information of Harris Inc. and calculate the free cash flow of Harris Inc.Net Cash from operating activities,
25
,
000
N
e
t
C
a
s
h
f
r
o
m
f
i
n
a
n
c
i
n
g
a
c
t
i
v
i
t
i
e
s
,
25
,
000
N
e
t
C
a
s
h
f
r
o
m
f
i
n
a
n
c
i
n
g
a
c
t
i
v
i
t
i
e
s
,
35,000Net Cash used in investing activities, apart from investment in Long-Term Assets,
12
,
000.
N
e
t
C
a
s
h
u
s
e
d
i
n
i
n
v
e
s
t
i
n
g
a
c
t
i
v
i
t
i
e
s
,
(
12
,
000.
N
e
t
C
a
s
h
u
s
e
d
i
n
i
n
v
e
s
t
i
n
g
a
c
t
i
v
i
t
i
e
s
,
(
20,000)Investment in Long-Term Assets,
12
,
000
C
a
s
h
d
i
v
i
d
e
n
d
p
a
i
d
12
,
000
C
a
s
h
d
i
v
i
d
e
n
d
p
a
i
d
10,000.
Report Question
0%
Long Term Notes Payable______________________________________Dr CrRepay60,000 l 135,000 Beg l 51,000Borrowing ________________l__________________ l 126,000 Ending
0%
Answer: TRUEExplanation: Retained EarningsBeginning Balance
82
,
000
A
d
d
:
N
e
t
I
n
c
o
m
e
f
o
r
t
h
e
y
e
a
r
58
,
000
=
82
,
000
A
d
d
:
N
e
t
I
n
c
o
m
e
f
o
r
t
h
e
y
e
a
r
58
,
000
=
140,000Less: Retained Earnings for 2015 (108,000)Dividend Declared =$32,000
0%
It includes cash transactions affecting the long-term liabilities and equity of the business.
0%
Answer: Net Cash from operating activities
25
,
000
L
e
s
s
:
C
a
s
h
u
s
e
d
i
n
L
o
n
g
−
T
e
r
m
A
s
s
e
t
s
0
L
e
s
s
:
C
a
s
h
d
i
v
i
d
e
n
d
s
10
,
000
F
r
e
e
C
a
s
h
F
l
o
w
25
,
000
L
e
s
s
:
C
a
s
h
u
s
e
d
i
n
L
o
n
g
−
T
e
r
m
A
s
s
e
t
s
0
L
e
s
s
:
C
a
s
h
d
i
v
i
d
e
n
d
s
10
,
000
F
r
e
e
C
a
s
h
F
l
o
w
15,000
What is the equation to calculate Free Cash Flow
Report Question
0%
It shows the link between accrual based income and the cash reported on the balance sheet.
0%
It includes cash transactions that primarily affect current assets and current liabilities.
0%
It includes cash transactions affecting the long-term liabilities and equity of the business.
0%
Free Cash Flow= Net Cash Provided by Operating Activities - Capital Expenditures- Cash Dividends
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