Test Bank for Fundamental
Managerial Accounting Concepts
(2025 Release) 11th Edition By
Christopher Edmonds, Mark
Edmonds, Jennifer Edmonds (All
Chapters 1-14, 100% Original
Verified, A+ Grade)
All Chapters Arranged Reverse: 14-1
This is The Only Original and
Complete Test Bank for 2025
Release 11th Edition, All Other
Files in the Market are
Fake/Old/Wrong Edition.
,Chapter 14. Statement of Cash Flows
Student name:__________
1) Pierce Corporation reported a $2,300 balance in accounts receivable on January 1, Year 2.
During the year, sales on account in the amount of $17,400 were made. If the ending balance
of accounts receivable is $1,500, what is the amount of cash received from customers?
A) $16,700
B) $19,700
C) $16,600
D) $18,200
2) Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, Year 2.
During the year, sales on account in the amount of $24,800 were made. If the ending balance
of accounts receivable is $3,700, what is the amount of cash received from customers?
A) $21,200
B) $21,500
C) $28,400
D) $24,700
3) Bates Company pays cash for all inventory purchases. Bates reports that it had a beginning
inventory of $2,050 and an ending inventory of $1,250. Its cost of goods sold equaled
$4,350. Based on this information, the amount of cash paid for inventory purchases was:
A) $5,150
B) $1,500
C) $3,550
D) $8,150
4) Bates Company pays cash for all inventory purchases. Bates reports that it had a beginning
inventory of $2,500 and an ending inventory of $900. Its cost of goods sold equaled $5,500.
Based on this information, the amount of cash paid for inventory purchases was:
A) $3,900
B) $7,100
C) $1,400
D) $9,100
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,5) The following beginning and ending balances were drawn from the records of Grimes
Company:
Beginning Ending
Equipment $ 3,000 $ 4,300
Accumulated Depreciation $ 3,900 $ 2,000
If Grimes Company sold equipment that had an original cost of $2,200 and accumulated
depreciation of $1,900 for $3,450, how much did Grimes pay for new equipment?
A) $3,455
B) $6,950
C) $3,400
D) $3,500
6) The following beginning and ending balances were drawn from the records of Grimes
Company:
Beginning Ending
Equipment $ 1,400 $ 1,100
Accumulated Depreciation $ 700 $ 400
If Grimes Company sold equipment that had an original cost of $600 and accumulated
depreciation of $300 for $250, how much did Grimes pay for new equipment?
A) $255
B) $300
C) $200
D) $550
7) The Upton Company reported a beginning balance of $1,000 and an ending balance of
$1,300 in its Unearned Revenue account for Year 2. During the year, $6,300 of revenue was
recognized. Based on this information, how much cash was received from customers?
A) $4,900
B) $8,300
C) $6,300
D) $6,600
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, 8) The Upton Company reported a beginning balance of $1,600 and an ending balance of
$2,200 in its Unearned Revenue account for Year 2. During the year, $8,000 of revenue was
recognized. Based on this information, how much cash was received from customers?
A) $8,000
B) $8,600
C) $8,200
D) $9,000
9) Bertram, Incorporated had beginning and ending accounts payable balances of $1,800 and
$1,900, respectively. Inventory had beginning and ending balances of $1,900 and $1,850,
respectively. All inventory purchases are made on account. If cost of goods sold equaled
$1,700, how much cash was spent to purchase inventory?
A) $1,700
B) $1,500
C) $1,550
D) $1,800
10) Bertram, Incorporated had beginning and ending accounts payable balances of $400 and
$450, respectively. Inventory had beginning and ending balances of $450 and $425,
respectively. All inventory purchases are made on account. If cost of goods sold equaled
$350, how much cash was spent to purchase inventory?
A) $275
B) $250
C) $400
D) $350
11) On January 1, the balance of Fink Corporation's accounts receivable was $7,000. Sales on
account amounted to $50,000 during the year. The ending balance of accounts receivable was
$10,000. What is the amount of cash collected from customers?
A) $53,000
B) $47,000
C) $40,000
D) $57,000
Version 1 3
Managerial Accounting Concepts
(2025 Release) 11th Edition By
Christopher Edmonds, Mark
Edmonds, Jennifer Edmonds (All
Chapters 1-14, 100% Original
Verified, A+ Grade)
All Chapters Arranged Reverse: 14-1
This is The Only Original and
Complete Test Bank for 2025
Release 11th Edition, All Other
Files in the Market are
Fake/Old/Wrong Edition.
,Chapter 14. Statement of Cash Flows
Student name:__________
1) Pierce Corporation reported a $2,300 balance in accounts receivable on January 1, Year 2.
During the year, sales on account in the amount of $17,400 were made. If the ending balance
of accounts receivable is $1,500, what is the amount of cash received from customers?
A) $16,700
B) $19,700
C) $16,600
D) $18,200
2) Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, Year 2.
During the year, sales on account in the amount of $24,800 were made. If the ending balance
of accounts receivable is $3,700, what is the amount of cash received from customers?
A) $21,200
B) $21,500
C) $28,400
D) $24,700
3) Bates Company pays cash for all inventory purchases. Bates reports that it had a beginning
inventory of $2,050 and an ending inventory of $1,250. Its cost of goods sold equaled
$4,350. Based on this information, the amount of cash paid for inventory purchases was:
A) $5,150
B) $1,500
C) $3,550
D) $8,150
4) Bates Company pays cash for all inventory purchases. Bates reports that it had a beginning
inventory of $2,500 and an ending inventory of $900. Its cost of goods sold equaled $5,500.
Based on this information, the amount of cash paid for inventory purchases was:
A) $3,900
B) $7,100
C) $1,400
D) $9,100
Version 1 1
,5) The following beginning and ending balances were drawn from the records of Grimes
Company:
Beginning Ending
Equipment $ 3,000 $ 4,300
Accumulated Depreciation $ 3,900 $ 2,000
If Grimes Company sold equipment that had an original cost of $2,200 and accumulated
depreciation of $1,900 for $3,450, how much did Grimes pay for new equipment?
A) $3,455
B) $6,950
C) $3,400
D) $3,500
6) The following beginning and ending balances were drawn from the records of Grimes
Company:
Beginning Ending
Equipment $ 1,400 $ 1,100
Accumulated Depreciation $ 700 $ 400
If Grimes Company sold equipment that had an original cost of $600 and accumulated
depreciation of $300 for $250, how much did Grimes pay for new equipment?
A) $255
B) $300
C) $200
D) $550
7) The Upton Company reported a beginning balance of $1,000 and an ending balance of
$1,300 in its Unearned Revenue account for Year 2. During the year, $6,300 of revenue was
recognized. Based on this information, how much cash was received from customers?
A) $4,900
B) $8,300
C) $6,300
D) $6,600
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, 8) The Upton Company reported a beginning balance of $1,600 and an ending balance of
$2,200 in its Unearned Revenue account for Year 2. During the year, $8,000 of revenue was
recognized. Based on this information, how much cash was received from customers?
A) $8,000
B) $8,600
C) $8,200
D) $9,000
9) Bertram, Incorporated had beginning and ending accounts payable balances of $1,800 and
$1,900, respectively. Inventory had beginning and ending balances of $1,900 and $1,850,
respectively. All inventory purchases are made on account. If cost of goods sold equaled
$1,700, how much cash was spent to purchase inventory?
A) $1,700
B) $1,500
C) $1,550
D) $1,800
10) Bertram, Incorporated had beginning and ending accounts payable balances of $400 and
$450, respectively. Inventory had beginning and ending balances of $450 and $425,
respectively. All inventory purchases are made on account. If cost of goods sold equaled
$350, how much cash was spent to purchase inventory?
A) $275
B) $250
C) $400
D) $350
11) On January 1, the balance of Fink Corporation's accounts receivable was $7,000. Sales on
account amounted to $50,000 during the year. The ending balance of accounts receivable was
$10,000. What is the amount of cash collected from customers?
A) $53,000
B) $47,000
C) $40,000
D) $57,000
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