A statement of cash flows explains the differences between the beginning and ending balances of: Multiple...

A statement of cash flows explains the differences between the beginning and ending balances of:

Multiple Choice

Cash, cash equivalents, and short-term investments. Working capital. Net income. Equity. Cash and cash equivalents.

Expert Solution

Correct asnwer is Cash and cash equivalent

A statement of cash flow is prepared for the year to explain the net cash used or flow from the activities in the current year.It explains the difference between the begining and ending cash and cash equivalent balances.

Three activities that the cash flow sattement is divided into are

1 Operating activities-Activities related to operations of the current year and working captal requirement

2 Investing activities-Activities related to capital investment, purchase of equipment etc

3 Financing activities-Activities related to financing needs of company such as taking loans and issuing equity.

Cash flow sattement record only the transaction that were affected in cash under the direct method

ekkarill92 answered 2 years ago

The statement of cash flows basically reconciles the beginning and ending balances of which other permanent...

The statement of cash flows basically reconciles the beginning and ending balances of which other permanent financial statement? Can you explain how this works exactly?

the differences between IFRS and GAAP in "Balance Sheet and Statement of Cash Flows "

Instruction: Only prepare the statement of Cash flows for the year ending 12/31/2018 The trial balances...

Instruction: Only prepare the statement of Cash flows for the year ending 12/31/2018 The trial balances for the beginning of the year and End of the year, as well as Additional information, are provided below. The name of the company is: Rockford Plumbing Supply, Inc. Final (Ending) Trial Balance - 12/31/2018 Account Name Debit Credit 101 Cash 431,794 105 Petty Cash 150 112 Accounts Receivable 464,550 113 Allowance for Doubtful Accounts 40,178 115 Notes Receivable 0 120 Inventory 569,671 126...

Governmental Accounting What are the differences between a cash flows statement prepared for a governmental electric...

Governmental Accounting What are the differences between a cash flows statement prepared for a governmental electric utility versus one prepared for an investor-owned utility?

Prepare a statement of cash flows for the month ending July 31

Seth Feye established Reliance Financial Services on July 1, 20Y2. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets =Liabilities + Stockholders’ Equity Accounts Accounts Common Fees Salaries Rent Auto Supplies Misc. Cash +Receivable + Supplies = Payable + Stock - Dividends + Earned - Expense - Expense - Expense - Expense - Expense a. +52,000 ...

Locate the errors in the following statement of cash flows. The cash balance at the beginning...

Locate the errors in the following statement of cash flows. The cash balance at the beginning of the year was $240,000. The cash balance at the end of the year may be incorrect. Also, other amounts may need to be changed from positive to negative, or from negative to positive. Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2016 1 Cash flows from operating activities: 2 Net income $360,000.00 3 Adjustments to reconcile net income to...

prepare a classified balance sheet and a statement of cash flows for the month ending August...

prepare a classified balance sheet and a statement of cash flows for the month ending August On the 1st of August, “Brothers haircut” had these transactions during this month. On August 2, Paid $2200 cash for August salon rent. On August 4, Incurred $380 of advertising costs due in 20 days On August 5, Purchased salon equipment for $120 On August 7, Paid for supplies (shampoos, creams, and gels) $350 On August 8, received $280 for selling gels On August...

Below is the Statement of Cash Flows for Sintern Ltd for the financial year ending 30...

Below is the Statement of Cash Flows for Sintern Ltd for the financial year ending 30 June 2022 (prepared using the Direct method): $ 000’s Cash flows from operating activities Receipts from customers 676 000 Payments to suppliers and employees (605 000) Cash generated from operations 71 000 Interest paid (4 000) Income tax paid (21 000) Net cash from operating activities 46 000 Cash flows from investing activities Cash paid for plant (25 000) Net cash used in investing...

Problem 1. Balance sheet and statement of cash flows preparation A. Prepare an income statement (multiple...

Problem 1. Balance sheet and statement of cash flows preparation A. Prepare an income statement (multiple step), balance sheet and cash flow statement using the selected financial statement information and additional data for Stanislaus Co. presented below. Balance sheet: December 31 2015 Cash.......................................................... $52,000 Accounts receivable (net)........................... 64,000 Inventory.................................................. 178,000 Land.......................................................... 78,800 Equipment................................................. 504,000 TOTAL............................................ $876,800 Accumulated depreciation.......................... $94,000 Accounts payable....................................... 50,400 Notes payable - short-term........................ 67,200 Notes payable -...

The essential difference between the statement of cash flows and the income statement is that: Select...

The essential difference between the statement of cash flows and the income statement is that: Select one: A. The income statement is based on the accruals concept, whereas the statement of cash flows reports cash received and paid. B. The income statement is prepared for external users, whereas the statement of cash flows is prepared for internal users only. C. The statement of cash flows only deals with the investors’ needs, whereas the income statement also deals with the needs...

Question