he transactions are as follows. (a) Issuance of common stock. (b) Purchase of land and building. (c) Redemption of bonds. (d) Sale of equipment (h) Payment of cash dividends. (i) (j) (4) Exchange of furniture for office equipment. Purchase of treasury stock. Loss on sale of equipment

he transactions are as follows. (a) Issuance of common stock. (b) Purchase of land and building. (c) Redemption of bonds. (d) Sale of equipment (h) Payment of cash dividends. (i) (j) (4) Exchange of furniture for office equipment. Purchase of treasury stock. Loss on sale of equipment

Name: E5-13 (L04) (Statement of Cash Flows-Classifications) The major class
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Description: E5-13 (L04) (Statement of Cash Flows-Classifications) The major classifications of activities reported in the statement ofcash flows are operating, investing, and financing. Classify each of the transactions listed below as:1. Operating activity-add

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following is NOT a cash flow from investing activities? a. Cash payments of dividends to shareholders b. Buying or selling of Land, buildings, and plant equipment. c. Buying and selling stocks of other firms d. Buying and selling bonds of other firms
7. Examine each of the following transactions ( 1 ) through ( 5 ). Determine where each should be reported on a statement of cash flows. The possible locations are identified by items A through E. (1) Common stock of another company was accepted in exchange for a copyright. (2) Received cash dividends from available for sale equity securities. (3) Received principal payment on loan previously made to subsidiary company. (4) Used excess cash to purchase treasury stock. (5) Received cash settlement on a lawsuit. (A) Operating Activities (B ) Investing Activities (C) Financing Activities (D) Schedule of Noncash Financing and/or Investing Activities (E) Not Reported on the Statement of Cash Flows O A. 1 = C; 2 = B; 3 = A; 4 = B; 5 = A. B. 1 = D; 2 = A; 3 = B; 4 = C; 5 = A. OC. 1 = B; 2 = A; 3 = C; 4 = B; 5 = E. OD. 1 = C; 2 = C; 3 = B; 4 = C; 5 = E. OE. 1 = D; 2 = A; 3 = A; 4 = B; 5 = E.
For each of the following accounts, place the letter of the financial statement on which it would be found in the space provided.1) Treasury Stock2) Amoritization Expense3) Trucks4) Gain on Sale of Equipment5)Unearned Revenues6) Accounts Receivable
Which of the following contains only accounts found on the balance sheet? Cash, notes payable, gross profit, common stock O Interest payable, inventory, accumulated depreciation, sales Gain on land sale, equipment, prepaid rent, accounts payable Cost of goods sold, utilities payable, common stock, prepaid rent Accumulated depreciation, retained earnings, wages payable, accounts receivable
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Which is an example of a cash flow from an investing activity?a. Receipt of cash from the issue of debentures.b. Payment of dividends.c. Receipt of cash from the sale of equipment.d. Payment of cash to suppliers for inventory.
Identify whether the activity is an operating, investing, or a financing activity, and if it is a source or a use of funds or if it is a non-cash activity. Cash dividends paid by the company Sale of equipment for cash Issuance of bonds payable Purchase of inventory from suppliers Sale of marketable securities Cash purchase of machinery Payment of salaries to employees Depreciation of fixed assets Payment of operating expenses Loss on sale of equipment Cash dividends paid by the company Sale of equipment for cash Issuance of bonds payable Purchase of inventory from suppliers…
*Use Accrual Accounting Base Method Chart of Accounts (strictly use it): ASSETS: Cash and Cash Equivalents: Petty Cash Cash on Hand Cash in Bank Accounts Receivables Merchandise Inventory Prepaid Expenses Supplies Fixed Assets Leasehold Improvements Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Transportation and Other Equipment Other Assets LIABILITIES: Accounts Payable Accrued Expenses and Other Liabilities Income Tax Payable EQUITY: Owner’s Capital Retained Earnings INCOME STATEMENT: Income: Sales Sales Discount Sales Returns and allowances Cost of Sales: Cost of Sales Expenses: Salary Expenses Rent Expenses Professional Fees Transportation Expenses Depreciation Expenses – Leasehold Improvements Depreciation Expenses – Transportation and Other Equipment Insurance Expenses Supplies Expenses Utility Expenses Miscellaneous Expenses Income Tax Income Tax Expense…
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The balance in the Retained Earnings account represents: Select one: a. Accumulated revenues from all prior years of operations b. Accumulated earnings that have not been distributed to stockholders c. The amount of cash available for dividends d. Cash in the bank
Classify the following cash flows as either operating, investing, or financing activities, assuming the indirect method. Cash Flow 1. Cash paid to purchase investments. 2. Paid cash dividends. 3. Paid long-term debt with cash. 4. Paid cash for rent. 5. Issued common stock for cash. 6. Paid cash for wages and salaries. 7. Received cash interest on a note. 25 8. Paid cash for property taxes on building. 9. Paid accounts payable with cash. 10. Received cash from sale of land. Activity Investing Financing Financing Operating
Classify each of the following cash flows as operating, investing, or financing activities: