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Classify each of the following items as an inflow (I) or an outflow (O) of cash, or

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Classify each of the following items as an inflow (I) or an outflow (O) of cash, or as neither(N).
Classify each of the following items as an inflow (I)
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Item Cash Accounts payable Notes payable Long-term debt Inventory Fixed assets Change (S) +100 -1,000 +500 -2,000 +200 +400 Item Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock Change (S) -700 +600 +100 +600 +800 +1,000

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Item Change IO Item Change IO Cash 100 O Accounts receivable 700 I Accounts payable 1000 O Net pr...View the full answer


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Related Book For  book-img-for-question
Principles Of Managerial Finance

Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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Depreciation of non-current assets is the process of allocating the cost of the asset over its useful life. The cost of the asset includes the purchase price, any additional costs incurred to bring the asset to its current condition and location, and any other costs that are directly attributable to the asset. The useful life of the asset is the period over which the asset is expected to be used by the company. To calculate the depreciation, companies use different methods such as straight-line, declining-balance, sum-of-the-years\'-digits, units-of-production, and group depreciation. The chosen method will depend on the type of asset, the company\'s accounting policies, and the accounting standards that are applicable. The straight-line method allocates an equal amount of the asset\'s cost over its useful life, while the declining-balance method calculates depreciation at a fixed rate, typically double the straight-line rate, but the amount of depreciation decreases over time. The sum-of-the-years\'-digits method is similar to the declining-balance method, but the rate of depreciation is calculated using a fraction that is based on the useful life of the asset. It\'s important to note that the depreciation expense will be recorded on the company\'s income statement and the accumulated depreciation will be recorded on the company\'s balance sheet. This will decrease the value of the asset on the balance sheet over time.

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