Classification of Cash Flows: For each of the following items, indicate whether the cash flow relates to an operating activity, an investing activity, or a financing activity.Cash receipts from customers for services renderedSale of long-term investments for cashAcquisition of PPE for cashPayment of income taxesBonds payable issued for cashPayment of cash dividends declared in previous yearPurchase of short-term investments (not cash equivalents) for cash

Operating activity refers to the day-to-day activities of a business that generate revenue, such as…

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 1BE

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Classification of Cash Flows: For each of the following items, indicate whether the cash flow relates to an operating activity, an investing activity, or a financing activity.

1. Cash receipts from customers for services rendered
2. Sale of long-term investments for cash
3. Acquisition of PPE for cash
4. Payment of income taxes
5. Bonds payable issued for cash
6. Payment of cash dividends declared in previous year
7. Purchase of short-term investments (not cash equivalents) for cash

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