The following table presents selected items from a recent cash flow statement of General Mills, Inc .
Question:
The following table presents selected items from a recent cash flow statement of General Mills, Inc . For each item, determine whether the amount would be disclosed in the cash flow statement under operating activities, investing activities, or financing activities. (General Mills uses the indirect method of reporting cash flows from operating activities.)
GENERAL MILLS, INC. Selected Items from Its Cash Flow Statement 1 Payment of long-term debt Change in receivables Depreciation and amortization Change in prepaid expenses Dividends paid Stock-based compensation Cash received from sales of assets and businesses Net earnings Change in accounts payable Proceeds from common stock issued Purchases of land, buildings, and equipment 2 3 7 8. 10 11
Step by Step Answer:
1 2 3 5 6 7 8 9 10 11 GENERAL MILLS INC Selected I...View the full answer
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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In order to determine the amount of cash created by operating operations, the indirect technique for preparing the statement of cash flows entails adjusting net income with changes in balance sheet.
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