. Place an X in the appropriate columns for each of the following situations. No

ID: 2533750 • Letter: #

Question

. Place an X in the appropriate columns for each of the following situations.

Non-

Cash Flows Classification

Effect on

cash

Operating

Investing

Financing

Cash

Trans-

Transaction

Activity

action

Sale of land for cash

Issuance of bonds for cash

Paying off accounts payable

Acquired land using common stock

Paid $10,000 cash dividend

Collected $1,000 accounts receivable

Purchased building using cash

Net Income

Sales of inventory on account

Issue common stock to retire bonds

Non-

Cash Flows Classification

Effect on

cash

Operating

Investing

Financing

Cash

Trans-

Transaction

Activity

action

Sale of land for cash

Issuance of bonds for cash

Paying off accounts payable

Acquired land using common stock

Paid $10,000 cash dividend

Collected $1,000 accounts receivable

Purchased building using cash

Net Income

Sales of inventory on account

Issue common stock to retire bonds

Explanation / Answer

Cash Flows Classification Effect on Non cash Operating Investing Financing Cash Trans- Transaction Activity Activity Activity + - action a. Sale of land for cash Yes + b. Issuance of bonds for cash Yes + c. Paying off accounts payable Yes - d. Acquired land using common stock Yes e Paid $10,000 cash dividend Yes - f. Collected $1,000 accounts receivable Yes + g. Purchased building using cash Yes - h. Net Income Yes + i. Sales of inventory on account Yes j. Issue common stock to retire bonds Yes

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. Place an X in the appropriate columns for each of the following situations. No

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