The major classifications of activities reported in the statement of cash flows are operating, investing, and...
The major classifications of activities reported in the
statement of cash flows are operating, investing, and financing.
Classify each of the transactions listed below as:
|
1. |
Operating activity-add to net income. | |
|---|---|---|
|
2. |
Operating activity-deduct from net income. | |
|
3. |
Investing activity. | |
|
4. |
Financing activity. | |
|
5. |
Reported as significant noncash activity |
The transactions are as follows.
|
Transactions |
Classifications of Activities |
|||
|---|---|---|---|---|
|
(a) |
Issuance of common stock. |
select a classification
|
||
|
(b) |
Purchase of land and building. |
select a classification
|
||
|
(c) |
Redemption of bonds. |
select a classification
|
||
|
(d) |
Sale of equipment. |
select a classification
|
||
|
(e) |
Depreciation of machinery. |
select a classification
|
||
|
(f) |
Amortization of patent. |
select a classification
|
||
|
(g) |
Issuance of bonds for plant assets. |
select a classification
|
||
|
(h) |
Payment of cash dividends. |
select a classification
|
||
|
(i) |
Exchange of furniture for office equipment. |
select a classification
|
||
|
(j) |
Purchase of treasury stock. |
select a classification
|
||
|
(k) |
Loss on sale of equipment. |
select a classification
|
||
|
(l) |
Increase in accounts receivable during the year. |
select a classification
|
||
|
(m) |
Decrease in accounts payable during the year. |
select a classification
|
Financing ActivityInvesting ActivityOperating Activity-Add to Net
IncomeOperating Activity-Deduct from Net IncomeReported as
Significant Noncash ActivityHomework Answers
| a | Issuance of common stock. | Financing Activity |
| b | Purchase of land and building. | Investing Activity |
| c | Redemption of bonds. | Financing Activity |
| d | Sale of equipment. | Investing Activity |
| e | Depreciation of machinery. | Operating Activity-Add to Net Income |
| f | Amortization of patent. | Operating Activity-Add to Net Income |
| g | Issuance of bonds for plant assets. | Reported as Significant Noncash Activity |
| h | Payment of cash dividends. | Financing Activity |
| i | Exchange of furniture for office equipment. | Reported as Significant Noncash Activity |
| j | Purchase of treasury stock. | Financing Activity |
| k | Loss on sale of equipment. | Operating Activity-Add to Net Income |
| l | Increase in accounts receivable during the year. | Operating Activity-Deduct from Net Income |
| m | Decrease in accounts payable during the year. | Operating Activity-Deduct from Net Income |
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