Fundamental Accounting Principles
24th Edition
ISBN: 9781259916960
Author: Wild, John J., Shaw, Ken W.
Publisher: Mcgraw-hill Education,
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Chapter 16, Problem 1QS
Transaction classification by activity
C1
Classify the following
1. Sold long-term investments for cash.
2. Received cash payments from customers.
3. Paid cash for wages and salaries.
4. Purchased inventories for cash.
5. Paid cash dividends.
6. Issued common stock for cash.
7. Received cash interest on a note.
8. Paid cash interest on outstanding notes.
9. Received cash from sale of land at a loss.
10. Paid cash for property taxes on building.
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Students have asked these similar questions
Classify the following cash flows as either operating (O), investing (I), or financing (F) activities. Paid cash interest on outstanding notes.
Classifying items on the statement of cash flows
Cash flow items must be categorized into one of four categories. Identify each item as operating (O), investing (I), financing (F), or non-cash (N).
a. Cash purchase of merchandise inventory
b. Cash payment of dividends
c. Cash receipt from the collection of long-term notes receivable
d. Cash payment for income taxes
e. Purchase of equipment in exchange for notes payable
f. Cash receipt from the sale of land
g. Cash received from borrowing money
h. Cash receipt for interest income
i. Cash receipt from the issuance of common stock
j. Cash payment of salaries
When reporting cash on the balance sheet, companies:
O A. combine cash and cash equivalents.
B. show each bank account separately.
C. combine cash with long - term investments.
D. combine cash with accounts receivable.
Chapter 16 Solutions
Fundamental Accounting Principles
Ch. 16 - Prob. 1DQCh. 16 - Prob. 2DQCh. 16 - What are some financing activities reported on the...Ch. 16 - Prob. 4DQCh. 16 - Prob. 5DQCh. 16 - Prob. 6DQCh. 16 - Prob. 7DQCh. 16 - Prob. 8DQCh. 16 - Prob. 9DQCh. 16 - Prob. 10DQ
Ch. 16 - Prob. 11DQCh. 16 - Prob. 12DQCh. 16 - Prob. 13DQCh. 16 - Prob. 14DQCh. 16 - Prob. 15DQCh. 16 - Transaction classification by activity C1 Classify...Ch. 16 - Prob. 2QSCh. 16 - QS 16-3 Indirect: Computing cash flows from...Ch. 16 - QS 16-4 Indirect: Computing cash flows from...Ch. 16 - QS 16-5 Indirect: Computing cash flows from...Ch. 16 - QS 16-6 Indirect: Computing cash from operations...Ch. 16 - QS 16-7 Indirect: Computing cash from operations...Ch. 16 - QS 16-8 Computing cash from asset sales P3
The...Ch. 16 - Prob. 9QSCh. 16 - QS 16-10 Computing investing cash flows P3
The...Ch. 16 - QS 16-11 Computing investing cash flows P3
Refer...Ch. 16 - Computing cash flows flow investing P3 Compute...Ch. 16 - QS 16-13 Computing cash from asset sales P3 Q...Ch. 16 - QS 16-14 Computing financing cash flows...Ch. 16 - Prob. 15QSCh. 16 - Prob. 16QSCh. 16 - Prob. 17QSCh. 16 - QS 16-18 Indirect: Preparing statement of cash...Ch. 16 - Ma rice la Yahtzee Cluedu
Cash provided (used) by...Ch. 16 - QS 16-20A Recording entries in a spreadsheet P4
A...Ch. 16 - QS 16-21B Direct: Computing cash receipts from...Ch. 16 - QS 16-22B Direct: Computing cash payments to...Ch. 16 - QS 16-23B Direct: Computing cash paid for...Ch. 16 - Prob. 24QSCh. 16 - Prob. 25QSCh. 16 - Prob. 26QSCh. 16 - Prob. 27QSCh. 16 - Prob. 1ECh. 16 - Prob. 2ECh. 16 - Exercise 16-3
Indirect: Reporting and interpreting...Ch. 16 - Exercise 16-4 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-5 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-6 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-7 Indirect: Reporting cash flows from...Ch. 16 - Prob. 8ECh. 16 - Exercise 16-8
Cash flows from financing...Ch. 16 - Exercise 16-10 Reconstructed entries P3
For each...Ch. 16 - Exercise 16-11 Indirect: Preparing statement of...Ch. 16 - Exercise 16-12 Indirect: Preparing statement of...Ch. 16 - Exercise 16-13 Analyzing cash flow on total assets...Ch. 16 - Exercise 16-14A Indirect: Cash flows spreadsheet...Ch. 16 - Exercise 16-14
Direct Cash flow...Ch. 16 - Exercise 16-16BDirect: Computing cash flows P5 For...Ch. 16 - Exercise 16-17B Direct: Preparing statement of...Ch. 16 - Prob. 18ECh. 16 - Prob. 19ECh. 16 - Prob. 20ECh. 16 - Prob. 1APSACh. 16 - Prob. 2APSACh. 16 - Prob. 3APSACh. 16 - Prob. 4APSACh. 16 - Prob. 5APSACh. 16 - Prob. 6APSACh. 16 - Prob. 7APSACh. 16 - Prob. 8APSACh. 16 - Problem 16-1B Indirect Computing cash flows from...Ch. 16 - Prob. 2BPSBCh. 16 - Prob. 3BPSBCh. 16 - Prob. 4BPSBCh. 16 - Prob. 5BPSBCh. 16 - Prob. 6BPSBCh. 16 - Prob. 7BPSBCh. 16 - Problem 16-8BBDirect: Statement of cash flows P5...Ch. 16 - Prob. 16SPCh. 16 - Prob. 1AACh. 16 - Prob. 2AACh. 16 - Prob. 3AACh. 16 - Prob. 1BTNCh. 16 - Prob. 2BTNCh. 16 - BTN 16-3 Access the April 14. 2016. filing of the...Ch. 16 - BTN 16-6 Team members are to coordinate and...Ch. 16 - Prob. 5BTNCh. 16 - Prob. 6BTNCh. 16 - Prob. 7BTN
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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
- In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. collected accounts receivable from customers B. issued common stock for cash C. declared and paid dividends D. paid accounts payable balance E. sold a long-term asset for the same amount as purchasedarrow_forwardWhich of the following represents a source of cash in the investing section? A. sale of investments B. depreciation expense C. decrease in accounts receivable D. decrease in bonds payablearrow_forwardMatch the following assertions with their associated description: (a) existence/occurrence, (b) completeness. (c) rights and obligations, (d) valuation or allocation, (e) presentation and disclosure. 1. Cash accounts arc properly classified on the balance sheet and disclosed in the notes to the financial statements. 2. Cash balances exist at the balance sheet date. 3. The recorded balances reflect the true underlying economic value of those assets. 4. The company has title to the cash accounts as of the balance sheet date. 5. Cash balances include all cash transactions that have taken place during the period.arrow_forward
- Cash received from the issuance of notes payable is a(n) ________ activity on the statement of cash flows. A operating B financing C investing D non-cash investing and financingarrow_forwardOn the statement of cash flows, which of the following items is classified as an investingactivity?a. Borrowing cash from a bankb. Issuing common stockc. Repaying a loan with cashd. Collecting cash on a long-term loanarrow_forwardI. Direction: Analyze the following transactions. Determine if the movement of cash is INFLOW or OUTFLOW. Write your answer on the second column. Determine if the cash activity is OPERATING< INVESTING Or FINANCING. Write your answer on the third column. If the transaction is non-cash, write NONCASH on both columns. Transaction Movement of cash Cash activity 1. collection from customers 2. payment of interest to lenders made by financial institutions 3. issuance of shares of stocks 4. proceed from loan from Metrobank 5. depreciation of equipment 6. sale of merchandise 7. sale of obsolete machineries 8. payment of salaries of employees. 9. payment of taxes 10. payment of dividendsarrow_forward
- Classify the following cash flows as either operating, investing, or financing activities, assuming the indirect method. Cash Flow 1. Cash paid to purchase investments. 2. Paid cash dividends. 3. Paid long-term debt with cash. 4. Paid cash for rent. 5. Issued common stock for cash. 6. Paid cash for wages and salaries. 7. Received cash interest on a note. 25 8. Paid cash for property taxes on building. 9. Paid accounts payable with cash. 10. Received cash from sale of land. Activity Investing Financing Financing Operatingarrow_forwardClassifying transactions on the statement of cash flows—indirect method Consider the following transactions: Identify the category of the statement of cash flows in which each transaction would be reported.arrow_forwardWhich of the following is considered cash for financial reporting purposes? a. Accounts receivable.b. Investments with maturity dates greater than three months.c. Checks received from customers.d. Accounts payable.arrow_forward
- Classify each of the following cash flows as operating, investing, or financing activities:arrow_forwardQuestion Content Area On the statement of cash flows, the operating activities section would include a.cash paid for the purchase of investments b.cash received from the issuance of common stock c.cash paid for cash dividends d.cash paid for interest on short-term notes payablearrow_forwardTotal cash inflow in the operating section of the statementof cash flows should include which of the following?a. Cash received from customers at the point of sale.b. Cash collections from customer accounts receivable.c. Cash received in advance of revenue recognition(unearned revenue).d. All of the above.arrow_forward
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