Classifying inflows and outflows of cash: Classify each of the following items as an inflow () or

Question:

Classifying inflows and outflows of cash: Classify each of the following items as an inflow (Ⅰ) or an outflow (O) of cash, or as neither (N).

Item Change ($) Item Change ($)

Cash ＋100 Accounts receivable －700

Accounts payable －1000 Net profits ＋600

Notes payable ＋500 Depreciation ＋100

Long-term debt －2000 Repurchase of stock ＋600

Inventory ＋200 Cash dividends ＋800

Fixed assets ＋400 Sale of stock ＋1000

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...