Exercise 13-5 The following is a list of transactions that occurred during the y

Question

Exercise 13-5 The following is a list of transactions that occurred during the year Complete the table below, indicating in which classification) each transaction would appear in a statement of cash flows prepared using the indirect method, and whether the transaction would be added to, deducted from, or have no effect on the category you have chosen. The first one has been done for you as an example. Financing Activities No Effect Noncash Activities Activities No Effect 1. Purchased inventory for cash. 2. Sold inventory on account. 3. Sold equipment for cash at a loss 4. Recorded depreciation on equipment 5. Paid dividends, 6. Recorded an unrealized loss on a long-term equity investment carried at foir value through profit or loss. 7. Collected an account from a customer 8. Signed and received a mortgage payable. 9 Paid, in ful, the current portion of a mortgage payable 10. Purchased land by issuing common shares No Effect Question Attempts: O of 2 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Operating Activities Investing Activities Financing Activities Non Cash Activities Purchased Inventory for Cash Deduted No effect No effect No effect Sold Inventory on Account Deduted No effect No effect No effect Sold Equipment for Cash At Loss Added Added No effect No effect Recorded Depreciation on Equipment Added No effect No effect No effect Paid Dividends No effect No effect Deduted No effect Recorded an Unrealized loss on a long term equity investment carried at Fair Value Added No effect No effect No effect Collected an Account From a customer Added No effect No effect No effect Signed and Received a Mortgage Payable No effect No effect Added No effect Paid in Full a Current Portion of a Mortgage payable No effect No effect Deduted No effect Purchased land by issuing common shares No effect No effect No effect Added

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