Classifying inflows and outflows of cash Classify each of the following items as an inflow (1) or an outflow (0) of cash, or neither (N). Item Change ($) + 1,680 Cash Balance Accounts payable +930 + 1,130 +940 Notes payable Long-term debt Inventory Fixed assets +900 + 900 (Select from the drop-down menu.) Item Cash Balance Change ($) - 310 - 1,200 + 1,570 + 1,000 + 130 + 500 Change ($) - 310 Item Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock Classification (1/0)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
Classifying inflows and outflows of cash Classify each of the following items as an inflow (1) or an outflow (O) of cash, or neither (N).
Item
Change ($)
+ 1,680
Cash Balance
Accounts payable
+930
+ 1,130
Notes payable
Long-term debt
Inventory
Fixed assets
(Select from the drop-down menu.)
Item
Cash Balance
Change ($)
- 310
- 1,200
+ 1,570
+ 1,000
+ 130
+ 500
Change ($)
- 310
Item
Accounts receivable
Net profits
Depreciation
Repurchase of stock
Cash dividends
Sale of stock
Classification (1/0)
+940
+ 900
+ 900
Transcribed Image Text:Classifying inflows and outflows of cash Classify each of the following items as an inflow (1) or an outflow (O) of cash, or neither (N). Item Change ($) + 1,680 Cash Balance Accounts payable +930 + 1,130 Notes payable Long-term debt Inventory Fixed assets (Select from the drop-down menu.) Item Cash Balance Change ($) - 310 - 1,200 + 1,570 + 1,000 + 130 + 500 Change ($) - 310 Item Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock Classification (1/0) +940 + 900 + 900
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Financial Statements
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education