Posted by Delly on Thursday, June 3, 2010 at 9:49pm.
You are provided with the following transactions that took place during a recent fiscal year.
Instructions
Complete the table indicating whether each item (1) should be reported as an operating (O) activity, investing (I) activity, financing (F) activity, or as a noncash (NC) transaction reported in a separate schedule, and (2) represents a cash inflow or cash outflow or has no cash flow effect. Assume use of the indirect approach.
Transaction
Where Reported
Cash Inflow, Outflow,
or No Effect?
(a) Recorded depreciation expense on the plant assets. FOINC Cash inflowNo cash flow effectCash outflow
(b) Recorded and paid interest expense. FNCOI Cash outflowCash inflowNo cash flow effect
(c) Recorded cash proceeds from a sale of plant assets. NCFOI No cash flow effectCash inflowCash outflow
(d) Acquired land by issuing common stock. OINCF No cash flow effectCash outflowCash inflow
(e) Paid a cash dividend to preferred stockholders. IONCF Cash outflowCash inflowNo cash flow effect
(f) Distributed a stock dividend to common stockholders. IOFNC Cash outflowCash inflowNo cash flow effect
(g) Recorded cash sales. FOINC Cash inflowNo cash flow effectCash outflow
(h) Recorded sales on account. IONCF No cash flow effectCash inflowCash outflow
(i) Purchased inventory for cash. FOINC Cash outflowCash inflowNo cash flow effect
(j) Purchased inventory on account. NCOFI Cash outflowNo cash flow effectCash inflow
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