Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 16, Problem 1QS
Classify the following
_____ 1. | Sold long-term investments for cash. |
_____ 2. | Received cash payments from customers. |
_____ 3. | Paid cash for wages and salaries. |
_____ 4. | Purchased inventories for cash. |
_____ 5. | Paid cash dividends. |
_____ 6. | Issued common stock for cash. |
_____ 7. | Received cash interest on a note. |
_____ 8. | Paid cash interest on outstanding notes. |
_____ 9. | Received cash from sale of land at a loss. |
_____ 10. | Paid cash for property taxes on building |
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
On the statement of cash flows, which of the following items is classified as an investingactivity?a. Borrowing cash from a bankb. Issuing common stockc. Repaying a loan with cashd. Collecting cash on a long-term loan
Classify the following into Cash Flows from-
Operating Activities; Investing Activities; Financing Activities.
i. Cash sale of goods in cash
ii. Cash payment to acquire fixed assets
iii. Cash payments from issuing shares at a premium
iv. Payment of dividend
v. Interest received on Investment
vi. Interest Paid on debentures
vii. payment of income tax
viii. Cash repayment of long term loans
ix. Cash payment of salaries and wages to employees
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
Chapter 16 Solutions
Principles of Financial Accounting.
Ch. 16 - A company uses the indirect method to determine...Ch. 16 - Prob. 2MCQCh. 16 - Prob. 3MCQCh. 16 - Prob. 4MCQCh. 16 - The following information is available for a...Ch. 16 - Prob. 1DQCh. 16 - Prob. 2DQCh. 16 - Prob. 3DQCh. 16 - Prob. 4DQCh. 16 - When a statement of cash flows is prepared using...
Ch. 16 - Prob. 6DQCh. 16 - Prob. 7DQCh. 16 - Prob. 8DQCh. 16 - Prob. 9DQCh. 16 - If a company reports positive net income for the...Ch. 16 - Prob. 11DQCh. 16 - Prob. 12DQCh. 16 - Prob. 13DQCh. 16 - Prob. 14DQCh. 16 - Prob. 15DQCh. 16 - Classify the following cash flows as either...Ch. 16 - Statement of cash flows Label the following...Ch. 16 - Prob. 3QSCh. 16 - Prob. 4QSCh. 16 - Prob. 5QSCh. 16 - Prob. 6QSCh. 16 - Prob. 7QSCh. 16 - Prob. 8QSCh. 16 - Prob. 9QSCh. 16 - The plant assets section of the comparative...Ch. 16 - Prob. 11QSCh. 16 - Prob. 12QSCh. 16 - Prob. 13QSCh. 16 - Prob. 14QSCh. 16 - Prob. 15QSCh. 16 - Prob. 16QSCh. 16 - Prob. 17QSCh. 16 - Prob. 18QSCh. 16 - Prob. 19QSCh. 16 - A company uses a spreadsheet to prepare its...Ch. 16 - Prob. 21QSCh. 16 - Bioware Co. reports cost of goods sold of 42,000....Ch. 16 - Prob. 23QSCh. 16 - Prob. 24QSCh. 16 - Refer to the data in QS 16-7. 1. How much cash is...Ch. 16 - Refer to the data in QS 16-7. 1. How much cash is...Ch. 16 - Prob. 27QSCh. 16 - Prob. 1ECh. 16 - Prob. 2ECh. 16 - Prob. 3ECh. 16 - Prob. 4ECh. 16 - Fitz Company reports the following information....Ch. 16 - Prob. 6ECh. 16 - Prob. 7ECh. 16 - Prob. 8ECh. 16 - Use the following information to determine cash...Ch. 16 - For each of the following separate transactions,...Ch. 16 - Prob. 11ECh. 16 - Use the following information to prepare a...Ch. 16 - Prob. 13ECh. 16 - Complete the following spreadsheet in preparation...Ch. 16 - Prob. 15ECh. 16 - Prob. 16ECh. 16 - Prob. 17ECh. 16 - Prob. 18ECh. 16 - Use the following information about Ferron Company...Ch. 16 - Prob. 20ECh. 16 - Prob. 1APCh. 16 - Refer to the information in Problem 16-1A....Ch. 16 - Forten Companys current-year income statement,...Ch. 16 - Prob. 4APCh. 16 - Prob. 5APCh. 16 - Golden Corp.s current-year income statement,...Ch. 16 - Prob. 7APCh. 16 - Prob. 8APCh. 16 - Prob. 1BPCh. 16 - Prob. 2BPCh. 16 - Gazelle Corporations current-year income...Ch. 16 - Prob. 4BPCh. 16 - Prob. 5BPCh. 16 - Prob. 6BPCh. 16 - Prob. 7BPCh. 16 - Prob. 8BPCh. 16 - Prob. 16SPCh. 16 - Use Apples financial statements in Appendix A to...Ch. 16 - Prob. 2AACh. 16 - Prob. 3AACh. 16 - Prob. 1BTNCh. 16 - COMMUNICATING IN PRACTICE Your friend, Diana Wood,...Ch. 16 - Prob. 3BTNCh. 16 - Prob. 5BTNCh. 16 - Prob. 6BTN
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Which of the following would be considered a cash outflow for investing activities? a. cash paid to purchase product for inventory b. cash paid to reacquire common stock c. cash paid to repay debt d. cash paid to purchase equipmentarrow_forwardWhich of the following represents a source of cash in the investing section? A. sale of investments B. depreciation expense C. decrease in accounts receivable D. decrease in bonds payablearrow_forwardUse the following excerpts from Nutmeg Companys financial records to determine net cash flows from operating activities and net cash flows from investing activities.arrow_forward
- Use the following excerpts from Kirsten Companys Statement of Cash Flows and other financial records to determine the companys free cash flow.arrow_forwardUse the following excerpts from Eagle Companys financial records to determine net cash flows from financing activities.arrow_forwardUse the following excerpts from Fruitcake Companys financial records to determine net cash flows from investing activities.arrow_forward
- Use the following cash transactions relating to Warthoff Company to determine the cash flows from operating, using the direct method.arrow_forwardUse the following excerpts from Grenada Companys financial records to determine net cash flows from operating activities and net cash flows from investing activities.arrow_forwardWrite an X in the appropriate column to show whether each of the following cash flows should be classified as an operating, investing, or financing. Also, indicate whether it represents a cash inflow or outflow. Cash Flow Operating Investing Financinga. Received cash from issuance of common stock __ __ __b. Net Income __ __ __c. Received cash from sale of used equipment __ __ __ d. Paid cash dividends __ __ __e. Paid cash to settle a note payable __ __ __f. Paid cash to purchase new computer __ __ __g. Paid cash to pay inventories __ __ __h. Received cash from issuance of bonds payable __ __ __i. Received cash from sale of investment __ __ __j. Paid cash to repurchase stocks __ __ __arrow_forward
- On the statement of cash flows, which of the following items is classified as a financingactivity?a. Borrowing cash by signing a long-term noteb. Purchasing investments with cashc. Acquiring long-term assets with cashd. Loaning money with a short-term note receivablearrow_forwardClassify the following cash flows as either operating (O), investing (I), or financing (F) activities. Received cash payments from customers.arrow_forwardClassify the following cash flows as either operating (O), investing (I), or financing (F) activities. Paid cash interest on outstanding notes.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubIntermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningCornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
- Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeFinancial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License