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 rendered Sale of long-term investments for cash Acquisition of PPE for cash Payment of income taxes Bonds payable issued for cash Payment of cash dividends declared in previous year Purchase of short-term investments (not cash equivalents) for cash

A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Assets Current assets: Cash and cash equivalents Accounts receivable. Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment. Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities. Income taxes payable Total current liabilities Bonds payable Total liabilities. Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Burgess Company Income Statement (dollars in millions) Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income. Nonoperating items: Gain on sale of equipment Income before taxes. Income taxes Net income Burgess also provided the following information: $ 4,180 2,860 1,320 912 408 2 410 144 $ 266…

Which of the following describes the operating activities as shown in the statement of cash flows? a. Includes increases and decreases in long-term assets b. Includes transactions that primarily impact current assets and current liabilities c. Shows the beginning and ending balance of cash d. Includes transactions affecting the capitalization of the business

Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement.   (a) (b) 1. Payments of short-term debt. Answer Answer 2. Repurchases of common stock. Answer Answer 3. Purchases of property and equipment. Answer Answer 4. Sale of investments classified as long-term. Answer Answer 5. Proceeds from the issuance of common stock. Answer Answer 6. Increase in prepaid expenses and other current assets. Answer Answer 7. Acquisition for cash of a competitor. Answer Answer 8. Increase in current income tax payable. Answer Answer 9. Decrease in accounts payable. Answer Answer 10. Dividends paid to stockholders. Answer Answer 11.…

What types of transactions are reported in the non-cash investing and financing activities section of the statement of cash flows?

On the statement of cash flows, the cash flows from financing activities section would include all of the following except Group of answer choices receipts from the sale of bonds payable payments for dividends payments for purchase of treasury stock payments of interest on bonds payable

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When using the indirect method of determining net cash flows from operating activities, how are revenues and expenses reported on the statement of cash flows if their cash effects are identical to the amounts reported in the income statement?

On the statement of cash flows, the cash flows from investing activities section would include   a. payments for retirement of bonds payable   b. receipts from the issuance of common stock   c. payments for dividends   d. receipts from the sale of investments

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