PA12-1 Determining Cash Flow Statement Effects of Transactions [LO 12-1] Motif Furniture is an Austin-based furniture company. For each of the following first-quarter transactions, indicate whether operating (0), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-), or (NE) if the transaction has no effect on cash. Transaction Activity Cash Flow 1. Bought used equipment for cash. 2. Paid cash to purchase new equipment. 3. Declared and paid cash dividends to stockholders. 4. Collected payments on account from customers. 5. Recorded and paid interest on debt to creditors. 6. Repaid principal on loan from bank. 7. Prepaid rent for the following period. 8. Made payment to suppliers on account.

PA12-1 Determining Cash Flow Statement Effects of Transactions [LO 12-1] Motif Furniture is an Austin-based furniture company. For each of the following first-quarter transactions, indicate whether operating (0), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-), or (NE) if the transaction has no effect on cash. Transaction Activity Cash Flow 1. Bought used equipment for cash. 2. Paid cash to purchase new equipment. 3. Declared and paid cash dividends to stockholders. 4. Collected payments on account from customers. 5. Recorded and paid interest on debt to creditors. 6. Repaid principal on loan from bank. 7. Prepaid rent for the following period. 8. Made payment to suppliers on account.

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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Problem 11-1A (Static) Determine proper classification (LO11-1) Listed below are several transactions. For each transaction, indicate whether the cash effect of each transaction is reported in a statement of cash flows as an operating, investing, financing, or noncash activity. Also, indicate whether the transaction is a cash inflow or cash outflow, or has no effect on cash. The first answer is provided as an example. Transaction 1. Payment of employee salaries. 2. Sale of land for cash. 3. Purchase of rent in advance. 4. Collection of an account receivable. 5. Issuance of common stock. 6. Purchase of inventory. 7. Collection of notes receivable. 8. Payment of income taxes. 9. Sale of equipment for a note receivable. 10. Issuance of bonds. 11. Loan to another company. 12. Payment of a long-term note payable. 13. Purchase of treasury stock. 14. Payment of an account payable. 15. Sale of equipment for cash. Type of Activity Operating Cash Inflow or Outflow Cash outflow
eek 1 Statement Matching Amortization JORN BART Accounts Payable R Cash Receipts Land Net Cash Depreciation Expense Net Income Purchased Office Equipment Cash Payments Equipment Cost of Goods Sold Dividends Paid Current Assets Interest Expense Cash From Investing Activities Balance of Retained Earnings Allowance for Doubtful Accounts Cash & Cash Equivalents Accounts Receivable Current Liabilities ㅂㅇㄹ F6 A F7 & J 2⁰ Balance Sheet 8 F8 * Income Statement F9 prt sc F10 C Cash Flow Statement home F11 ㅅ end Retained Earnings Statement F12 (4) J insert
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3 ook rences Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory FERRON COMPANY Statement of Cash Flows For Year Ended December 31 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities $…
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ts eBook Print ferences Required information [The following information applies to the questions displayed below.] Green Brands, Incorporated (GB) presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from GBI's Year 2 and Year 1 year-end balance sheets: Account Title Accounts receivable Merchandise inventory. Prepaid insurance Accounts payable Salaries payable Unearned service revenue The Year 2 income statement is shown next: Sales Cost of goods sold Gross margin Service revenue Insurance expense Salaries expense Income Statement Depreciation expense Operating income Gain on sale of equipment Net income Year 2 $ 22,300 57,000 18,800 24,200 4,800 800 Year 1 $ 28,500 48,600 24,400 16,500 4,000 3,000 $ 616,000 (380,000) 236,000 4,200 (39,000 (151,000) (5,400) 44,800 3,300 $ 48,100 b. Prepare the operating activities section of the statement of cash flows using the indirect method for Year 2. Note: Amounts to be…
View previous at Required information Assume a company prepares the statement of cash flows using the indirect method. The company purchases its Inventory on credit from suppliers. How should a decrease in accounts payable be reflected In the section that reconciles net income to cash flow from operating activitles? Multiple Choice It would be added if the section starts with net income and subtracted if it starts with a net loss It would be added in reconciling net income to cash flow from operafing activities It would be subtracted in reconciling net income to cash flow from operating activities A change in accounts payable does not affect the reconciliation of net income to cash flow from operating activities < Prev 15 of 15 Next Form 1040Sch...pdf 6 Form1040 Sch...pdf B1040 Sohedul...pdf Form8829 (1).pdf MacBook Air
Net cash from operating activities is： Net cash from financing activities is： Net cash from investing activities is:
E-24 Preparing the statement of cash flows - indirect method: Using the Rouse Exercise Equipment data in Exercise E-23. Prepare the company's statement of cash flow-indirect method-for the year ended December 31, 2018. Assume investments are purchased with cash.
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