17-2 An analysis of comparative balance sheets, the currentyears income statemen

Question

17-2

An analysis of comparative balance sheets, the currentyears income statement and the general ledger accounts of GaglianoCorp, Uncovered the following items. Assume all items involved cashunless there is information to the contrary.

(a)    Payment of interest on notes payable

(b)    Exchange of land for patent

(c)    Sale of building at book value

(d)    Payment of dividends

(e)    Depreciation

(f)      Receipt of dividends oninvestment in stock

(g)    Receipt of interest on notesreceivable

(h)    Issuance of capital stock

(i)      Amortization of patent

(j)      Issuance of bonds for land

(k)    Purchase of land

(l)      Conversion of bonds intocommon stock

(m) Loss on sale of land

Explanation / Answer

A

B

C

D

E

F

G

H

I

J

K

L

M

N

A

Operating Activity

B

Non-cash investing & financing activity

C

Investing activity

D

Financing activity

E

Operating activity (non-cash expense added back innet income )

F

Operating activity

G

Operating activity

H

Financing activity

I

Operating activity

J

Non-cash investing & financing activity

K

Investing activity

L

Non-cash investing & financing activity

M

Operating activity

N

Financing activity

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