Question

From the comparative balance sheet - categorize each account as operating activities, investing activities, or financing activities.

You only need to categorize the accounts that go into the statement of cash flows (most but not all accounts listed).

Comparative Balance Sheet 2018 2017 Cash Accounts Receivable Inventory Prepaid Rent $409,300 $621,800 $1,119,000 $88,700 $258,700 $569, 100 $1,056,000 $46,900 Total Current Assets $2,238,800 $1,930,700 N/R - City of Gila Bend Equipment Accumulated Depreciation - Equipment Buildings Accumulated Depreciation - Buildings Land $226,300 $554,000 -$337,000 $699,000 -$235,000 $1,064,000 $172,400 $654,000 -$310,000 $574,000 -$212,000 $724,000 Total Assets $4,210,100 $3,533, 100 Accounts Payable Accrued Interest Payable Accrued Wages Bonds Payable Dividends Payable Income Taxes Payable $218,700 $27,900 $36,800 $100,000 $25,000 $99, 100 $334,600 $42,600 $56,500 $52,200 $78,000 $91,000 Total Liabilities $507,500 $654,900 Common Stock Retained Earnings Current Year Income $400,000 $2,578,200 $724,400 $300,000 $1,889,300 $688,900 Total Equity $3,702,600 $2,878,200 Total Liabilities + Equity $4,210,100 $3,533, 100

$60,400 gain on sale of equipment was included in net income

Answer 1

Operating Activities	Investing activities	Financing activities
Change in Accounts Receivable	Notes Receivable	Bonds issued
Change in Inventory	Equipment sold proceeds	Dividends paid
Change in Prepaid Rent	Land Purchased	Common stock issued
Depreciation expenses-Building
Depreciation expenses-Equipment
Change in Accounts Payable
Change in Accrued interest
Change in Accrued wages
Change in Income taxes
Gain on sale of equipment