The following occurred during the year. Assuming that the company uses the direct method of reporting cash provided by operating activities, indicate the proper accounting treatment for each item by placing an X in the appropriatecolumn.

Transcribed Image Text:

Note Describing Non-Cash Investing Not Reported on Statement or in Footnote Statement of Cash Flows Operating Investing Flnancing and Financing Activities Activitles Activitles Actlvitles a. Long-term bonds payable were retired b. Surplus merchandise inventory was c. Borrowed cash from the bank by by issuing common shares sold for cash.... signing a nine-month note payable... e. A six-month note receivable was accepted in exchange for a building that had been used in operations. plant and equipment.. in a previous period was paid in the f. Recorded depreciation expense on al g. A cash dividend that was declared