Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the...

Question

Question

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assumi

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

a.	Declared and paid a cash dividend	Financing Activity
b.	Recorded depreciation expense	Operating Activity
c.	Paid cash to settle long-term note payable	Financing Activity
d.	Prepaid expense increased in the year	Operating Activity
e.	Accounts receivable decreased in the year	Operating Activity
f.	Purchased land by issuing common stock	Non Cash Activity
g.	Inventory increased in the year	Operating Activity
h.	Sold equipment for cash, yielding a loss	Operating Activity and Investing Activity
i.	Accounts payable decreased in the year	Operating Activity
j.	Income taxes payable increased in the year	Operating Activity

Kindly comment if you need further assistance. Thanks‼!

Add a comment

Answer 2

Similar Homework Help Questions

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the...

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assuming that this company uses the Indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an X in the appropriate column(s). (More than one column may be used.) Statement of Cash Flows Investing&Not Reported g Financing Financing on Statement es Activities Activities or in Notes Operating Investing Financing Activities...
Exercise 12-1 Indirect: Cash flow classification LO C1

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assuming that this company uses the indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an X in the appropriate column(s). (More than one column may be used.) a. Declared and paid a cash dividendb. Recorded depreciation expensec. Pald cash to settle long-term note payabled. Prepaid expenses increased in the yeare....
Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the...

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assuming that this company uses the indirect method to report cash provided by operating activities, select where each item would appear on its statement of cash flows. a.Purchased treasury stock with cashb.Prepaid expenses increased in the yearc.Retired bonds payable by issuing stockd.Purchased a building with cashe.Sold land in return for cashf.Paid cash to settle long-term note payableg.Purchased a trademark with cashh.Issued common stock for cashi.Purchased...

Check my work Exercise 12-1 Indirect: Cash flow classification LO C1 points The following transactions and...

Check my work Exercise 12-1 Indirect: Cash flow classification LO C1 points The following transactions and events occurred during the year. Assuming that this company uses the indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an X in the appropriate columns) (More than one column may be used.) Statement of Cash Flows Operating Activities Investing Activities Noncash Investing & Financing Activities Not Reported on Statement...
Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s)

Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s). (More than one column may be used.) a. Declared and paid a cash dividendb. Recorded depreciation expensec. Paid cash to settle long-term note payabled. Prepaid expenses increased in the yeare. Accounts receivable decreased in the yearf. Purchased land by issuing common stockg. Inventory increased in the yearh. Sold equipment for cash, yielding a lossi. Accounts payable decreased...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use...

Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable increase $40,000 Depreciation expense 80,000 Prepaid expenses decrease 12,000 Gain on sale of machinery...

QS 12-1 Transaction classification by activity LO C1 Classify the following cash flows as either operating,...

QS 12-1 Transaction classification by activity LO C1 Classify the following cash flows as either operating, investing, or financing activities assume indirect method. 1. Paid cash for property taxes on building. 2. Received cash dividends from investments. 3. Paid accounts payable with cash. 4. Sold stock investments for cash. 5. Paid cash for a building. 6. Cash paid to purchase long-term investments. 7. Received cash from long-term debt issuance. Issued preferred stock for cash. 9. Issued common stock for cash....
Problem 12-1A You are provided with the following information regarding events that occurred at Moore Corporation...

Problem 12-1A You are provided with the following information regarding events that occurred at Moore Corporation during 2019 or changes in account balances as of December 31, 2019 Moore prepares its statement of cash flows using the indirect approach Complete the first column of the table, indicating whether each item affects the operating activities section that is, the item would be listed among the adtments to net income to determine net cash provided by operating activities under the Indirect approach),...
Exercise 12-8 Cash flows from financing activities LO P3 16.66 points a. Net income was $35,000....

Exercise 12-8 Cash flows from financing activities LO P3 16.66 points a. Net income was $35,000. b. Issued common stock for $64,000 cash. c. Paid cash dividend of $14,600. d. Paid $50,000 cash to settle a note payable at its $50,000 maturity value. e. Paid $12,000 cash to acquire its treasury stock. f. Purchased equipment for $39,000 cash. eBook Print Use the above information to determine this company's cash flows from financing activities. (Amounts to be deducted should be indicated...

QS 12-4 Indirect: Computing cash flows from operations LO P2

QS 12-4 Indirect: Computing cash flows from operations LO P2Cain Inc. reports net income of $17,800. Its comparative balance sheet shows the following changes: accounts receivable increased $8,800; inventory decreased $10,800; prepaid insurance decreased $3,800; accounts payable increased $5,800 and taxes payable decreased $4,800. Compute cash flows from operations using theindirect method. (Amounts to be deducted should be indicated by a minus sign.)

Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the...

Homework Answers