College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 23, Problem 1CE
To determine
Classify the given activities as operating, investing, or financing.
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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
Please answer the following using the image attached. Thank you
1. Cash Received from customers
2. Cash payment for Salaries
3. Cash payment for Operating Expenses
4. Cash payment for Income Tax
5. Cash Flows from Operating Activities
6. Cash Flows from Investing Activities
7. Cash Flows from Financing Activities
8. Cash flows from acquiring and selling products are classified as
9. Cash flows from acquiring and disposing long-term assets are classified as
10. Cash flows from borrowings and paying of debts are classified as
1. which of the following transactions will result in the increase and decrease in liability?
a. payment of loan by installmentb. borrowed money from the bankc. issued a promissory note in payment of a liabilityd. request for an extension of the date of payment
2. a statement which shows where the money of the business is obtained and used?
a. statement of financial positionb. statement of cash flowsc. cash budgetd. statement of revenues and expenses
Chapter 23 Solutions
College Accounting, Chapters 1-27
Ch. 23 - True/False The purpose of the statement of cash...Ch. 23 - Investing activities are those transactions...Ch. 23 - An increase in accounts receivable is deducted...Ch. 23 - Prob. 4TFCh. 23 - Prob. 5TFCh. 23 - Prob. 1MCCh. 23 - Prob. 2MCCh. 23 - Prob. 3MCCh. 23 - Prob. 4MCCh. 23 - Prob. 5MC
Ch. 23 - Prob. 1CECh. 23 - Prob. 2CECh. 23 - Prob. 3CECh. 23 - Prob. 4CECh. 23 - Prob. 5CECh. 23 - Prob. 6CECh. 23 - Prob. 7CECh. 23 - Prob. 8CECh. 23 - Prob. 1RQCh. 23 - Prob. 2RQCh. 23 - Prob. 3RQCh. 23 - Prob. 4RQCh. 23 - Prob. 5RQCh. 23 - Prob. 6RQCh. 23 - Prob. 7RQCh. 23 - Prob. 8RQCh. 23 - Prob. 9RQCh. 23 - Prob. 10RQCh. 23 - Prob. 11RQCh. 23 - Prob. 12RQCh. 23 - Prob. 13RQCh. 23 - Prob. 14RQCh. 23 - Prob. 15RQCh. 23 - Prob. 16RQCh. 23 - Prob. 17RQCh. 23 - Prob. 18RQCh. 23 - Prob. 19RQCh. 23 - Prob. 20RQCh. 23 - Prob. 21RQCh. 23 - SERIES A EXERCISES IDENTIFICATION OF OPERATING,...Ch. 23 - CHANGE IN CASH AND CASH EQUIVALENTS Olsen Companys...Ch. 23 - Prob. 3SEACh. 23 - Prob. 4SEACh. 23 - GAINS AND LOSSES ON THE SALE OF LONG-TERM ASSETS...Ch. 23 - Prob. 6SEACh. 23 - Prob. 7SEACh. 23 - CASH PAID FOR INTEREST Ball Companys income...Ch. 23 - Prob. 9SPACh. 23 - Prob. 10SPACh. 23 - COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn...Ch. 23 - EXPANDED STATE MENT OF CASH FLOWS Financial...Ch. 23 - Prob. 1SEBCh. 23 - Prob. 2SEBCh. 23 - Prob. 3SEBCh. 23 - Prob. 4SEBCh. 23 - Prob. 5SEBCh. 23 - Prob. 6SEBCh. 23 - Prob. 7SEBCh. 23 - Prob. 8SEBCh. 23 - Prob. 9SPBCh. 23 - Prob. 10SPBCh. 23 - COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES...Ch. 23 - EXPANDED STATEMENT OF CASH FLOWS Financial...Ch. 23 - MANAGING YOUR WRITING Direct Method A friend of...Ch. 23 - MASTERY PROBLEM Financial statements for...Ch. 23 - CHALLENGE PROBLEM The long-term liabilities...
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- Name a source document that provides information about each of the following types of business transactions: a. Cash payment b. Cash receipt c. Sale of goods or services d. Purchase of goods or servicesarrow_forwardReceive cash from customers in settement of debts owed by themarrow_forwardWhat is the main purpose of accounts receivable in factoring? a. To meet immediate cash needs of the business b. To create an additional guarantee of collection c. To invest accounts receivable in another business d. To establish a legal proof for future usearrow_forward
- Which of the following is not an example of a cash outflow? Select one: a. Purchase of inventory on credit b. pay employee wages and salaries c. cash withdrawal by the owner d. payment of income tax e. payment of accounts payablearrow_forwardwhat the effect to asset, liability and owner's equity if the company receives cash from a bank loanarrow_forwardClassify the following cash flows as either operating (O), investing (I), or financing (F) activities. Paid cash for wages and salaries.arrow_forward
- Classify the following cash flows as either operating (O), investing (I), or financing (F) activities. Received cash interest on a note.arrow_forwardA financial report that lists the cash inflows and outflows for an accounting period, and that classifies those cash flows as operating activities, investing activities, and financing activities. Transactions resulting from the production or purchase of merchandise and the sale of goods or services to customers, including expenditures related to administering the business. Transactions resulting from making and collecting loans or that involve purchasing and selling plant assets, other productive assets, or investments other than cash equivalents. 1. Indirect Method 2. Operating Activities Transactions with a 3. Statement of Cash Flows company's owners and creditors which include 4. Financing Activities getting cash from issuing debt and repaying the amounts borrowed, and getting cash from or distributing cash to owners. 5. Direct Method 6. Investing Activities A calculation of the net cash provided or used by operating activities that lists the major classes of operating cash…arrow_forwardWhich 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.arrow_forward
- From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability. c.contra asset. d.surplus. e.revenue.arrow_forwardWhich one of the following is NOT an example of cash flow from operating activities? Select one: a. Cash payment to suppliers for goods and services b. Cash receipts from the sale of goods and the rendering of services c. Cash payment of wages and salaries to employees d. Cash receipts from disposal of non-current assetsarrow_forwardThe system of preparing financial statements based on recording events when the cash is received and reporting expenses when the cash is paid is called: a. Accrual basis accounting. b. Operating cycle accounting. c. Cash basis accounting. d. Revenue recognition accounting. e. Current basis accounting.arrow_forward
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