Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5 Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate column. a. Purchased land by issuing a note b. Collected cash from sales c. Paid cash toward accounts payable d. Sold inventory for cash e. Retired long-term notes payable by issuing common stock t. Recorded depreciation expense g. Paid cash for interest owed h. Paid cash toward taxes owed Borrowed cash from bank by signing a nine-year note payable Paid cash to purchase a patent Statement of Cash Flows Investing Activities Operating Activities Financing Activities Noncash Investing and Financing Activities Not Reported on Statement or in Notes

Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5 Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate column. a. Purchased land by issuing a note b. Collected cash from sales c. Paid cash toward accounts payable d. Sold inventory for cash e. Retired long-term notes payable by issuing common stock t. Recorded depreciation expense g. Paid cash for interest owed h. Paid cash toward taxes owed Borrowed cash from bank by signing a nine-year note payable Paid cash to purchase a patent Statement of Cash Flows Investing Activities Operating Activities Financing Activities Noncash Investing and Financing Activities Not Reported on Statement or in Notes

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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