Classify each of the following items according to the section on the statement of cash flows in
Question:
Classify each of the following items according to the section on the statement of cash flows in which it should appear: operating (O), investing (I), or financing (F):
Item Section
Example: Cash paid for insurance............................................O
1. Cash paid for land.......................................... ______________
2. Cash received from issuance of note..................... ______________
3. Cash paid for dividends.................................... ______________
4. Cash received from issuance of capital stock............ ______________
5. Cash collected from customers............................ ______________
6. Cash paid for income taxes................................ ______________
Step by Step Answer:
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1285183237
9th edition
Authors: Gary A. Porter, Curtis L. Norton