Homework Help is Here – Start Your Trial Now!
Business
Accounting
Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: (Click the icon to view the items.) Identify each item as a(n): Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F -) Activity that is not used to prepare the indirect statement of cash flows (N) a. Increase in accounts payable f. Loss on sale of land b. Payment of dividends c. Decrease in accrued liabilities g. Depreciation expense h. Increase in merchandise inventory i. Decrease in accounts receivable d. Issuance of common stock e. Gain on sale of building j. Purchase of equipment

Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: (Click the icon to view the items.) Identify each item as a(n): Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F -) Activity that is not used to prepare the indirect statement of cash flows (N) a. Increase in accounts payable f. Loss on sale of land b. Payment of dividends c. Decrease in accrued liabilities g. Depreciation expense h. Increase in merchandise inventory i. Decrease in accounts receivable d. Issuance of common stock e. Gain on sale of building j. Purchase of equipment

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

help identified A to J with he info on the screenshot . ty. 

Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: (Click the icon to view the items.) Identify each item as a(n): Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F -) Activity that is not used to prepare the indirect statement of cash flows (N)
Transcribed Image Text:Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: (Click the icon to view the items.) Identify each item as a(n): Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F -) Activity that is not used to prepare the indirect statement of cash flows (N)
a. Increase in accounts payable f. Loss on sale of land b. Payment of dividends c. Decrease in accrued liabilities g. Depreciation expense h. Increase in merchandise inventory i. Decrease in accounts receivable d. Issuance of common stock e. Gain on sale of building j. Purchase of equipment
Transcribed Image Text:a. Increase in accounts payable f. Loss on sale of land b. Payment of dividends c. Decrease in accrued liabilities g. Depreciation expense h. Increase in merchandise inventory i. Decrease in accounts receivable d. Issuance of common stock e. Gain on sale of building j. Purchase of equipment
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Information system controls
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
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
SEE MORE TEXTBOOKS