Statement of cash flows : This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. To identify: The types of cash flow activities reported in the statement of cash flows.

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Answer 1

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Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

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Selected comparative financial statements of Korbin Company follow. Sales KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 512,008 $ 392,240 2019 $ 272,200 Cost of goods sold 308,229 245,542 174,208 Gross profit 203,779 146,698 97,992 Selling expenses 72,705 54,129 35,930 Administrative expenses 46,081 34,517 22,593 Total expenses 118,786 88,646 58,523 Income before taxes .84,993 58,052 39,469 Income tax expense 15,809 11,901 8,012 Net income $ 69,184 $ 46,151 $ 31,457 KORBIN COMPANY Comparative Balance Sheets Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings December 31 2021 2020 2019 $ 54,370 0 $ 36,390 600 $ 48,645 3,870 99,436 90,776 53,339 Total liabilities and equity $ 153,806 $ 127,766 $ 105,854 $ 22,456 $ 19,037 $ 18,524 68,000 68,000 50,000 8,500 8,500 5,556 54,850 32,229 31,774 $ 153,806 $ 127,766 $ 105,854

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Answer 2

Question

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

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Answer 3

Question

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

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Answer 4

Question

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

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Answer 5

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

Answer 6

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

Answer 7

Chapter 1, Problem 18RQ

1.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To identify: The types of cash flow activities reported in the statement of cash flows.

Answer 8

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

Answer 9

2.

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period.

To state: The examples of each type of cash flow activities of Incorporation O.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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Solution Summary: The author explains the three types of cash flow activities reported in the Statement of Cash flows: Operating Activities, Financing Activities and Investing Activities.

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