omprehensive in class Balance sheet & Cash Flow Problem 092120 Classify each of the following cash...
omprehensive in class Balance sheet & Cash Flow Problem 092120
- Classify each of the following cash flows as Operating, Investing, or Financing activities:
- Purchase equipment for cash Cash paid for utilities
- Cash payment of wages Cash paid to acquire investments
- Issuance of stock for cash Cash paid to retire debt
- Receipt of cash dividends from investment Cash received as interest on investment
- Cash collections from customers Cash received from selling investments
- Note payable issued for cash Cash received from a bank loan
- A company’s current-year income statement and selected balance sheet data from Dec 31 of the current and prior years follow. Prepare the operating activities section of the statement of cash flows using the indirect method for the current year.
Homework Answers
| Solution: | |||
| Particualrs | Classification | ||
| Purchase equipment for cash | Cash Flow from Investing Activities | ||
| Cash paid for utilities | Cash Flow From Operating Activities | ||
| Cash payment of wages | Cash Flow From Operating Activities | ||
| Cash paid to acquire investments | Cash Flow from Investing Activities | ||
| Issuance of stock for cash | Cash Flow From Financing Activities | ||
| Cash paid to retire debt | Cash Flow From Financing Activities | ||
| Receipt of cash dividends from investment | Cash Flow From Operating Activities | ||
| Cash received as interest on investment | Cash Flow From Operating Activities | ||
| Cash collections from customers | Cash Flow From Operating Activities | ||
| Cash received from selling investments | Cash Flow from Investing Activities | ||
| Note payable issued for cash | Cash Flow From Financing Activities | ||
| Cash received from a bank loan | Cash Flow From Financing Activities | ||
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omprehensive in class Balance sheet & Cash Flow Problem
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