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Question 4.1 (Total: 24 marks; 2 marks each) For each of the events listed below, select...

Question 4.1 (Total: 24 marks; 2 marks each)

For each of the events listed below, select the category that best describes its effect on a statement of cash flows. Your categories are as follows:

a. Cash provided/used by operating activities

b. Cash provided/used by investing activities

c. Cash provided/used by financing activities

d. Not a cash flow item

Events:

_____ 1. Payment on long-term debt

_____ 2. Issuance of bonds at a premium

_____ 3. Collection of accounts receivable

_____ 4. Cash dividends declared

_____ 5. Issuance of shares to acquire land

_____ 6. Sale of marketable securities (long-term)

_____ 7. Payment of employees' wages

_____ 8. Issuance of common shares for cash

_____ 9. Payment of income taxes payable

_____ 10. Purchase of equipment

_____ 11. Purchase of treasury stock (common)

_____ 12. Sale of real estate held as a long-term investment

Expert Solution

The events are recorded are as follows:

1) Payment on long-term debt (c) Cash provided/used by financing activities

2)Issuance of bonds at a premium (c)Cash provided/used by financing activities

3) Collection of accounts receivable (a) Cash provided/used by operating activities.

4) Cash dividends declared (d) Not a cash flow.

5.)Issuance of shares to acquire land (d) Not a cash flow.

6) Sale of marketable securities (long-term) (b) Cash provided/used by investing activities

7) Payment of employees' wages (a.)Cash provided/used by operating activities.

8)Issuance of common shares for cash ( c) Cash provided/used by financing activities.

9)Payment of income taxes payable (a) Cash provided/used by operating activities

10) Purchase of equipment (b) Cash provided/used by investing activities

11) Purchase of treasury stock (common) ( c) Cash provided/used by financing activities.

12)Sale of real estate held as a long-term investment (b). Cash provided/used by investing activities

ekkarill92 answered 4 months ago

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