You are provided with the following transactions that took place during a recent fiscal year. Instructions Complete
Question:
Instructions
Complete the table indicating whether each item (1) affects operating (O) activities, investing (I) activities, financing (F) activities, or is a noncash (NC) transaction reported in a separate schedule, and (2) represents a cash inflow or cash outflow or has no cash flow effect. Assume use of the indirectapproach.
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Statement of Cash Flow Activity Affected Cash Inflow Outflow, or No Effect? Transaction (a) Recorded depreciation e on the (b) (c) (d) plant assets. Incurred a loss on disposal of plant assets. Acquired a building by paying cash. Made principal repayments on a mortgage. (e) Issued common stock. (f) Purchased shares of another company to be held as a long-term equity investment. (g) Paid cash dividends to common stockholders. (h) Sold inventory on credit. The company uses a perpetual inventory system. (i) Purchased inventory on credit. G) Paid wages to employees
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Transaction SCF Activity Affected Cash inflow outflow or no cash flow e...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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