Example: Identify the category of the statement of cash flows inwhich each transaction would be reported
Question:
Example: Identify the category of the statement of cash flows inwhich each transaction would be reported – Operating (O), Investing(I), Financing (F) or (Non-Cash Investing and Financing Activity(NIF) and indicate whether the item increases (+) or decreases (-)cash.
o Purchased Equipment for Cash
o Issued Preferred Stock for Cash
o Cash Received From Sales to Customers
o Cash Paid to Vendorso Gain on Sale of Building
o Cash Payment of Income Taxes
o Purchased Treasury Stock
o Paid a Note Payable with Shares of Company’s Common Stock
o Decrease in Salaries Payable
o Loss on Sale of Land
o Cash Receipt from Issuance of Common Stock
o Net Incomeo Issuance of Note Payable to Borrow Cash
o Cash Receipt of Interesto Payment of Cash Dividend
o Increase in Merchandise Inventory
o Depreciation Expenseo Increase in Current Liabilities
o Cash Payment for Acquisition of Plant Assets
o Decrease in Current Assets (other than Cash)
o Decrease in Accrued Liabilities
o Cash Payment for Interest on Note Payable
o Decrease in Accounts Receivable
o Cash Payment on Note Payable
o Cash Purchase of Equipment
Expert Answer:
Purchased Equipment for Cash O Issued Preferred Stock for Cash F Cash Received From Sa... View the full answer
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
