All classifications on the balance sheet have a general relationship with sections identified on the statement of cash flows. Indicate which relationshipsare correctly identified in the table below.Classification on theNumberBalance SheetSection onStatement of CashFlowsIBonds PayableFinancingIIEquipmentOperatingIIICommon StockFinancingIVAccounts PayableOperatingVAccounts ReceivableOperatingMultiple ChoiceООI, II, III, IV, VIV, VI, II, IIII, III, IV, Vह

I. Bonds Payable - Financing: This is correct. Bonds are a form of debt, and transactions involving…

Answered: All classifications on the balance…

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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Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s). Note: More than one column may be used.
EXPLAIN FOUR ITEMS COVERED UNDER FINANCING ACTIVITIES IN THE STATEMENT OF CASH FLOWS?
Distribution lines on a journal entry are also shown on the Statement of Cash Flows. True or False
3. Using the following answer keys, you are to identify in which activity each of the transactions is classified and its effect on cash flows. Cash Flow Classification...using the capital letter only: O...Operating Activity I...Investing Activity F...Financing Activity OI...Operating and Investing Activity N...Noncash Transaction Effect on Cash Flows...using the capital letter only: I...Increase D...Decrease N...No Effect Transaction Cash Flow Classification Effect on Cash Flows Declared and paid a cash dividend. Sold short-term trading securities at a gain. Retired fully depreciated equipment. Sold a machine at a loss. Purchased long-term available-for-sale securities. Decreased accounts receivable. Purchased 90-day Treasury bill. Incurred a net loss. Declared and issued a stock dividend. Sold treasury stock.
Journal entries to record cash dividends are made on the: Select one: a. Declaration date and payment date. b. Declaration date and record date. c. Record date and payment date d. Payment date only e. Declaration date, record date, and payment date
The statement of cash flows is normally a required basic financial statement for each period for which an earnings statement is presented. The statement should include a separate schedule listing the financing and investing activities not involving cash. Required: What are financing and investing activities not involving cash? What are two types of financing and investing activities not involving cash? Explain what effect, if any, each of the following seven items would have on the statement of cash flows. accounts receivable inventory depreciation deferred tax liability issuance of long-term debt in payment for a building payoff of current portion of debt sale of a fixed asset resulting in a loss or gain
Activity reported in the Financing Activities section of the statement of cash flows would include accounts classified as a.current assets and current liabilities. b.long-term assets and long-term liabilities. c.long-term liabilities and stockholders' equity. d.current liabilities and stockholders' equity.
The sale of treasury stock will be reported as a in the section of the cash flow statement. O Cash Outflovw; Operating O Cash Inflow, Financing O Cash Inflow; Operating O Cash Outflow; Financing
5. In what section of the statement of cash flows is the repayment (retirement) of bonds payable reported? Noncash activities note Operating Activities Investing Activities Financing Activities
Which section of the statement of cash flows shows cash inflows and outflows from the issue and repayment of loans? A. Fiancing B. Operating C. Investing D. None of the Above
On the statement of cash flows, the investing activities section would include a. cash paid for dividends Ob. cash paid for retirement of bonds payable Oc. cash received from the issuance of capital stock Od. cash received from the sale of investments
Which of the following is included in the financing activities on a statement of cash flows? 28 Multiple Choice O Changes in accounts payable. Purchases of equipment. Paying interest to lenders. Cash dividends paid.

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