Accounting???????

Question

Assuming a statement of cash flows is prepared, indicate the reporting of the transactions and events listed below by major categories on the statement. Use the following code letters to indicate the appropriate category under which the item would appear on the statement of cash flows.

Code Code

Cash Flows From Operating Activities

Add to Net Income A Cash Flows From Investing Activities IA

Deduct from Net Income D Cash Flows From Financing Activities FA

Category

1. Common stock is issued for cash at an amount above par value.

2. Merchandise inventory increased during the period.

3. Depreciation expense recorded for the period.

4. Building was purchased for cash.

5. Bonds payable were acquired and retired at their carrying value.

6. Accounts payable decreased during the period.

7. Prepaid expenses decreased during the period.

8. Treasury stock was acquired for cash.

9. Land is sold for cash at an amount equal to book value.

10. Patent amortization expense recorded for a period.

Answer 1

can't you answer any of it?

Answer 2

i cant be bothered with accounting during my easter break. as a matter of fact, i cant be bothered with accounting any time of the year from now on (i finished my exams in november, no more accounting for me man)

Answer 3

You need a lot of research for that

Answer 4

If you consult SFAS 95, you'll have all of the answers

Answer 5

1. Common stock is issued for cash at an amount above par value

Cash inflow - Financing Activities

2. Merchandise inventory increased during the period

Deduct from net income

3. Depreciation expense recorded for the period

Add to net income

4. Building was purchased for cash

Cash outflow - Investing Activities

5. Bonds payable were acquired and retired at their carrying value

Cash outflow, and cash inflow - Financing Activities. It is recommended that you keep cash flows gross instead of netting them off

6. Accounts payable decreased during the period

Deduct from net income

7. Prepaid expenses decreased during the period

Add to net income

8. Treasury stock was acquired for cash

Cash outflow - Financing activities

9. Land is sold for cash at an amount equal to book value

Cash inflow - Investing activities

10. Patent amortization expense recorded for a period

Add to net income