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    CASTILLO, MA. CHEESA D.
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    Entity A had $35,000 in a checking account, $75,000 in a money market account, a $150,000 treasury bill maturing in May 2022 that was purchased in December 2020, and a $200,000 treasury bill maturing in February 2022 that was purchased in December 2021. The amount of cash and cash equivalents Entity A reports on its December 31, 2021 statement of financial position is $310,000. The document provides a multiple choice test on accounting concepts related to financial statements, including questions on reporting cash flows from equipment acquisition through stock issuance and cash dividends from marketable securities investments.

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    3.-CFAS-CHAPETER-EXAM-CASH-FLOW-XXXXXXXX

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    Entity A had $35,000 in a checking account, $75,000 in a money market account, a $150,000 treasury bill maturing in May 2022 that was purchased in December 2020, and a $200,000 treasury bill maturing in February 2022 that was purchased in December 2021. The amount of cash and cash equivalents Entity A reports on its December 31, 2021 statement of financial position is $310,000. The document provides a multiple choice test on accounting concepts related to financial statements, including questions on reporting cash flows from equipment acquisition through stock issuance and cash dividends from marketable securities investments.

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    © All Rights Reserved
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    3 views1 page

    Cfas Chapeter Exam Cash Flow XXXXXXXX

    Uploaded by

    CASTILLO, MA. CHEESA D.
    Entity A had $35,000 in a checking account, $75,000 in a money market account, a $150,000 treasury bill maturing in May 2022 that was purchased in December 2020, and a $200,000 treasury bill maturing in February 2022 that was purchased in December 2021. The amount of cash and cash equivalents Entity A reports on its December 31, 2021 statement of financial position is $310,000. The document provides a multiple choice test on accounting concepts related to financial statements, including questions on reporting cash flows from equipment acquisition through stock issuance and cash dividends from marketable securities investments.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    NEGROS ORIENTAL STATE UNIVERSITY CHAPTER EXAM

    CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS

    NEGROS ORIENTAL STATE UNIVERSITY


    College of Business Administration
    Accountancy Department

    CFAS (OVERVIEW, CONCEPTUAL FRAMEWORK FOR REPORTING & PRESENTATION OF FINANCIAL


    STATEMENTS )

    INSTRUCTION: READ THE PROBLEMS CAREFULLY AND ANSWER IT CORRECTLY.

    PROBLEM 1

    1. Entity A had the following balances at December 31, 20x1:


    Cash in checking account 35,000
    Cash in 90-day money market account 75,000
    Treasury bill, purchased 12/1/x0, maturing 5/31/x2 150,000
    Treasury bill, purchased 12/1/x1, maturing 2/28/x2 200,000

    How much cash and cash equivalents is reported in Entity A’s December 31, 20x1 statement of financial
    position?
    a. 110,000 c. 310,000
    b. 235,000 d. 460,000

    2. Entity A acquires equipment by issuing shares of stocks. How should Entity A report the transaction in
    the statement of cash flows?
    a. Operating activities
    b. Investing activities
    c. Financing activities
    d. Not reported

    3. Entity A, a financial institution, received cash dividends from its investments in marketable securities
    during the year. How will the dividends be presented in Entity A’s statement of cash flows?
    a. as investing activity
    b. as operating activity
    c. as financing activity
    d. a or b

    4. Which of the following statements best describes a statement of cash flows?


    a. The statement of cash flows is also called the statement of activities.
    b. The statement of cash flows shows information on an entity’s assets, liabilities and equity.
    c. The statement of cash flows shows information on an entity’s income and expenses during the
    period.
    d. The statement of cash flows shows historical changes of cash and cash equivalents during the
    period.

    5. Which of the following is presented under the investing activities section of a statement of cash flows?
    a. Collection of accounts receivable
    b. Cash purchases of inventories
    c. Purchase of equipment through cash
    d. Issuance of share capital through cash
    “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways acknowledge him, and
    he will make your paths straight.” (Proverbs 3:5-6)
    - END -

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