Question: Please double check work Question 5 Answer the following: Supercentre Corporation follows IFRS and recorded the following transactions during the year: Classify each item as

Please double check work

Please double check work Question 5 Answer the following: Supercentre Corporation follows

IFRS and recorded the following transactions during the year: Classify each item

Question 5 Answer the following: Supercentre Corporation follows IFRS and recorded the following transactions during the year: Classify each item as either an operating activity, investing activity or financing activity Activity Transaction 1. Repurchased shares $50,000 2. Payment of interest on debt $850 3. Collected from customers on account $1,000 4. Sold delivery truck $8,500 5. Billed customers for services performed $3,500 6. Received property tax bill $1,800 7. Prepaid insurance for one year $1,200 8. Bor 9. Paid utilities expense $600 Financing Operating Operating Investing Operating Operating Operating Financing Operating 10. Collect cash from a customer in advance of doing work Operating row cash from the bank $5,000 Supercentre Corporation follows IFRS and recorded the following transactions during the year: Identify whether each item is a cash inflow, cash outflow or has no effect on cash. 1. Repurchased shares $50,000 2. Payment of interest on debt $850 3. Collected from customers on account $1,000 4. Sold delivery truck $8,500 5. Billed customers for services performed $3,500 6. Received property tax bill $1,800 7. Prepaid insurance for one year $1,200 8. Borrow cash from the bank $5,000 9. Paid utilities expense $600 No Effect Cash Outflow Cash Inflow Cash Inflow Cash Inflow No Effect Cash Outflow Cash Inflow Cash Outflow 10. Collect cash from a customer in advance of doing work Cash Inflow

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