An analysis of comparative balance sheet the current year‘s income statement and

Question

An analysis of comparative balance sheet the current year‘s income statement and the general ledger accounts are Wellman Corp. uncovered the following items assume all items involve cash unless there is information to the contrary Exercise 17-2 items involve cash unless there is information to the contrary Indicate how each item should be dassified in the statement of cash flows using these four major An analysais of comparative balance sheets, the aurent year's income statement, and the ceneral ledger accounts of Wellman Corp, uncovered the following tems. Assume al dassfications: operating activity (ndirect method), investing adivity, finandng activity, and significant noncash investing and finanding activity a) Payment of nterest on notes payable. (b) Exchange of land for patent (c) Sale of building at book value (d) Payment of dividends.

Explanation / Answer

Solution:

a Financing Activities b significant non cash in financing activities c Investing activities d financing activities e operating activities f Investing activities g operating activities h financing activities i operating activities j financing activities k Investing activities l nothing m significant non cash in financing activities n financing activities

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