Question

The records of Mineola Limited provided the following data:
a. Purchased capital asset for $ 170,000; paid cash.
b. Purchased capital asset for $ 170,000; signed a long- term note with the vendor for $ 150,000 and paid $ 20,000 in cash.
c. Sold a capital asset for $ 34,000 cash; original cost, $ 90,000, accumulated depreciation, $ 70,000.
d. Sales revenue, $ 1,300,000; accounts receivable increased, $ 215,000.
e. Wages expense, $ 168,000; wages payable increased, $ 10,000.
f. Declared a cash dividend, $ 66,000; dividends payable decreased by $ 2,000.
g. Borrowed $ 107,000 cash from the bank.
h. Converted long- term bonds into common shares, $ 4,000,000.
i. Paid a note payable, $ 150,000 principal plus $ 6,000 interest.
j. Depreciation expense, $ 67,000.

Required:
For each of the above items, give:
1. The SCF category (operating, investing, financing), or indicate that the item is excluded from the SCF.
2. The item that would appear on the SCF (indirect presentation method for operatingactivities).


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  • CreatedFebruary 17, 2015
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