FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows fro…
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the …
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It…
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expect…
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Question
Indicate where the following would be classified on the statement of cash flows (indirect method). 13. net income 14. dividends 15. purchase of land
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Transcribed Image Text:Indicate where the following would be classified on the statement of cash flows (indirect method). 13. net income 14. dividends 15. purchase of land
Expert Solution
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Explanation -

Cash Flow Statement -

Under Cash Flow, there are three types of activities involved -

Operating Activities - Under this activity all the company operation-related activities like sales, expenses, and depreciation. This statement starts with an income statement then all the non-cash items need to be added to it. Expenses will be added and Incomes will be deducted.

All the changes in operating current assets and Liabilities need to be added and deducted.

Investing Activities - All the Purchase sales of assets are included under this section.

Financing Activities - All the issues and purchases of shares, Payment of Dividends, Issuance, and repayment of loans are included in this section.

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