Question

AP-1B LO 3 Indicate the section of the statement of cash flows where each item would be located (operating, investing or fina

0 0
Add a comment Improve this question Transcribed image text
Answer #1
Item Section Effect on cash
Loss on sale of equipment Operating Increase
Decrease in accounts payable Operating Decrease
Increase in food inventory Operating Decrease
Depreciation expense Operating Increase
Gain on sale of investments Operating Decrease
Dividend paid Financing Decrease
Issuance of shares in the company Financing Increase
Net income Operating Increase
Decrease in notes payable Financing Decrease
Sale of equipment Investing Increase
Decrease in accounts receivable Operating Increase

Kindly give a positive rating if you are satisfied with the answer. Feel free to ask if you have any doubt. Thanks.

Add a comment
Know the answer?
Add Answer to:
AP-1B LO 3 Indicate the section of the statement of cash flows where each item would...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment...

    Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment Distribute a Stock Dividend [Choose ] Investing + Non-cash investing and financing Financing - Investing - Financing + Operating - Operating + Record Bad Debt Expense Decrease in Merchandise Inventory [Choose Pay off Bonds Payable [Choose) Increase in Accounts Payable [Choose Issue Common Stock [Choose] Sale of long-term investments [Choose] Net Income [Choose)

  • Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare...

    Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare a statement of cash flows using the indirect method: Accounts payable increase $14,000 Accounts receivable increase 7,000 Accrued liabilities decrease 5,000 Amortization expense 31,000 Cash balance, January 1 21,000 Cash balance, December 31 141,000 Cash paid as dividends 41,000 Cash paid to purchase land 81,000 Cash paid to retire bonds payable at par 70,000 Cash received from issuance of common stock 75,000 Cash received...

  • Apex Company prepared the statement of cash flows for the current year that is shown below:...

    Apex Company prepared the statement of cash flows for the current year that is shown below: $ 40,000 22,000 (60,000) (25,000) 9,000 55,000 (12,000) 5,000 (6,000) 34,000 Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income Adjustments to convert net income to cash basis: Depreciation Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable Net cash provided by (used in) operating activities Investing...

  • Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018...

    Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 Assets:     Cash $33,200 $12,750     Accounts receivable 53,000 44,800     Inventory 29,500 27,500     Prepaid rent 2,200 6,200     Investments (long-term) 17,600 31,800     Property, plant, and equipment 162,000 149,450     Accumulated depreciation (61,600) (56,200) Total assets $235,900 $216,300 Liabilities and Equity:     Accounts payable $16,900 $19,500     Interest payable 3,500 4,800     Wages payable 9,600 7,100     Income taxes payable 5,500 3,600     Notes payable 30,400 53,000     Common stock 100,000 68,500     Retained earnings 70,000...

  • Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare...

    Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease $7,000 Accounts receivable increase 9,800 Wages payable decrease 4,200 Amortization expense 22.400 Cash balance, January 1 42,000 Cash balance, December 31 9,800 Cash paid as dividends 8,400 Cash paid to purchase land 140,000 Cash paid to retire bonds payable at par 105,000 Cash received from issuance of common stock 63,000 Cash received...

  • Using the codes below, indicate how each item will affect a Statement of Cash Flows. You...

    Using the codes below, indicate how each item will affect a Statement of Cash Flows. You may use a code more than once or not at all. Code Effect OA Added to net income in the operating section OS Subtracted from net income in the operating section IR Cash receipt in the investing section IP Cash payment in the investing section FR Cash receipt in financing section FP Cash payment in financing section N Non-cash investing and/or financing activity Record...

  • Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare...

    Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Remember to use negative signs with answers when appropriate. Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from...

  • Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect...

    Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2049 Dec. 31, 2018 Assets Cash $237,780 Accounts receivable (net) Inventories 86,140 243,170 $224,000 80,450 238,190 92,280 Investments Land Equipment Accumulated depreciation-equipment 124,720 268,290 (62,810) $897,290 210,590 (56,790) $788,720 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $162,410 16,150...

  • Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare...

    Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...

  • Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the...

    Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: (Click the icon to view the items.) Identify each item as a[n: • Operating activity addition to net income (O+) or subtraction from net income (0-) • Investing activity-cash intow (1+) or cash outflow (1) • Financing activity-cash inflow (F+) or cash outflow (F-) • Activity that is not used to prepare the indirect...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT