INTERMEDIATE ACTG LOOSELEAF W/ ACCESS
INTERMEDIATE ACTG LOOSELEAF W/ ACCESS
10th Edition
ISBN: 9781264397488
Author: SPICELAND
Publisher: MCG
Question
Book Icon
Chapter 21, Problem 21.14Q
To determine

Operating activities: Operating activities refer to the normal activities of a company to carry out the business. The examples for operating activities are purchase of inventory, payment of salary, sales, and others.

Investing activities: Investing activities refer to the activities carried out by a company for acquisition of long term assets. The examples for investing activities are purchase of equipment, long term investment, sale of land, and others.

To Explain: The reason for not reporting the gain from sale of an asset as cash flow from the operating activities in the statement of cash flows.

Blurred answer
Students have asked these similar questions
Need answer
Delta Corporation has revenues of $400,000 and deductible expenses of $390,000. It received a $50,000 dividend from Luna Enterprises, in which it holds a 15% stake. What is Delta Corporation's taxable income?
Please provide correct answer this financial accounting question
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Entrepreneurial Finance
Finance
ISBN:9781337635653
Author:Leach
Publisher:Cengage
Text book image
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Text book image
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:9781337514835
Author:MOYER
Publisher:CENGAGE LEARNING - CONSIGNMENT
Text book image
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:9780357110362
Author:Murphy
Publisher:CENGAGE L
Text book image
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Text book image
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:9781285595047
Author:Weil
Publisher:Cengage