+ Wi-Fi, Inc. has the following selected transactions during the year. Select the section of the statement of cash flows each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note. Transactions 1. Issues $20 million in bonds. Activities 2. Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4. Collects a $15,000 account receivable. 5. Exchnges land for a new patent. Both are valued at $300,000. 6. 7. Declares and pays a cash dividend of $100,000. Loans $50,000 to a customer, accepting a note receivable. 8. Pays $75,000 to suppliers for inventory.
+ Wi-Fi, Inc. has the following selected transactions during the year. Select the section of the statement of cash flows each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note. Transactions 1. Issues $20 million in bonds. Activities 2. Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4. Collects a $15,000 account receivable. 5. Exchnges land for a new patent. Both are valued at $300,000. 6. 7. Declares and pays a cash dividend of $100,000. Loans $50,000 to a customer, accepting a note receivable. 8. Pays $75,000 to suppliers for inventory.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wi-Fi, Inc. has the following selected transactions during the year. Select the section of the
statement of cash flows each of these items would be reported: operating activities (indirect
method), investing activities, financing activities, or a separate noncash activities note.
Transactions
1. Issues $20 million in bonds.
Activities
2.
Purchases equipment for $80,000.
3.
Pays a $20,000 account payable.
4.
Collects a $15,000 account receivable.
5. Exchnges land for a new patent. Both are valued at $300,000.
6.
7.
Declares and pays a cash dividend of $100,000.
Loans $50,000 to a customer, accepting a note receivable.
8. Pays $75,000 to suppliers for inventory.
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