Question: Required: For each item, identify both the dollar amount and its classification, that is, whether it would appear as a positive or a negative adjustment

 Required: For each item, identify both the dollar amount and its

Required: For each item, identify both the dollar amount and its classification, that is, whether it would appear as a positive or a negative adjustment to profit in the calculation of cash flow from operations (using the Indirect method), or as some other inflow or outflow of cash. (If there is no effect and activity choose "No Effect" and "No Activity" from drop down. Enter all values as positive.) 1. Declared a $15.000 cash dividend, paid $12,000 during the year, 2. Sold, for $90,000 cash, land that had cost $75,000 two years earlier 3. Sold for cash 2,000 shares for $6 a share. 4. Bought machinery for $24,000 in exchange for a note due in 18 months 5. Bought a computer that had a fair value of $35,000 by giving in exchange real estate that had cost $15,000 in an earlier period 6. Equipment depreciation, $18,000. 7. Issued for cash on December 31, 2020, a $250,000 10-year, 10% bond at an $18,000 discount 8. Bought its own shares for $7.500 and immediately cancelled them 9. Paid a lawyer $6,200 for services performed billed, and recorded correctly in 2019. 10. Reported profit of $63,000 for the year ended December 31, 2020 Activity Effect Amount 2-3 2-5 3 NN 4

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