Accounting Multiple Choice! Cash flow items must be categorized in one of four c

Question

Accounting Multiple Choice!

Cash flow items must be categorized in one of four categories. Identify each item as Operating Activity, Investing Activity, Financing Activity, or Non-cash activity. A = Operating Activity B = Investing Activity C = Financing D = Non-cash Transactions: Cash purchases of merchandise inventory. Cash payment of dividends. Cash receipt from the collection of long-term notes receivable. Cash payments for income taxes. Purchases of equipment in exchange for notes payable. Cash receipt from sale of land. Cash received from borrowing money. Cash receipt for interest income. Cash receipt from the issuance of common stock. Cash payment of salaries. A Company expects the following for 2016: Net cash provided by operating activities of S 158,000 Net cash provided by financing activities of S 60,000 Net cash used for investing activities of $ 80,000 Cash dividends paid to stockholders of $10,000 Stock dividend 1,000 shares, fair market value of S 5,000 The net increase in cash is S 128,000 S 123,000 S 133,000 S 158,000 S 153,000

Explanation / Answer

Question2:

Question No 1: Transaction No Type of cash Flow 1 A 2 C 3 B 4 A 5 D 6 B 7 C 8 B 9 C 10 A

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