Refer to P3€“ 8, and use the following chart to identify whether each transaction in P3€“ 8 results in a cash flow effect from operating (O), investing (I), or financing (F) activities, and indicate the direction and amount of the effect on cash (+ for increase and €“ for decrease). If there is no cash flow effect, write €œnone.€ The first transaction is provided as an example.

IN EXERCISE
a. Guests at the parks paid $ 566,266 cash in admissions.
b. The primary operating expenses (such as employee wages, utilities, and repairs and maintenance) for the year were $ 450,967, with $ 412,200 paid in cash and the rest on account.
c. Interest paid on long- term borrowings was $ 58,962.
d. The parks sell food and merchandise and operate games. The cash received during the year for these combined activities was $ 355,917. The cost of merchandise sold during the year was $ 90,626.
e. Cedar Fair purchased and built additional buildings, rides, and equipment during the year, paying $ 83,481 in cash.
f. Guests may stay in some of the parks at accommodations owned by the company. During the year, accommodations revenue was $ 74,049; $ 72,910 was paid by the guests in cash and the rest was on account.
g. Cedar Fair paid $ 125,838 on notes payable.
h. The company purchased $ 146,100 in food and merchandise inventory for the year, paying $ 118,000 in cash and the rest on account.
i. The selling, general, and administrative expenses (such as the president€™s salary and advertising for the parks, those not classified as operating expenses) for the year were $ 131,882; $ 125,500 was paid in cash and the rest was on account.
j. Cedar Fair paid $ 9,600 on trade payables during the year.

Transcribed Image Text:

Operating, Investing, or Financing Effect Direction and Amount of the Effect Transaction +566,266