College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Textbook Question
Chapter 23, Problem 1SEA
SERIES A EXERCISES
IDENTIFICATION OF OPERATING, INVESTING, AND FINANCING ACTIVITIES The following activities took place during the current year. Indicate whether each activity is a
(a) Proceeds from collection of principal amount of loans made to borrowers
(b) Cash receipts from the sale of goods
(c) Payments for interest on loans
(d) Payments of dividends to stockholders
(e) Payments to acquire investments in debt securities
(f) Dividends received on investments made in the stock of other corporations
(g) Repayment of the principal on loans
(h) Interest received on loans made to outside entities
(i) Salaries paid to employees
(j) Payments to acquire property, plant, and equipment and other productive assets
(k) Payments to purchase
(l) Proceeds from the sale of common stock
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Classification of Cash Flows: For each of the following items, indicate whether the cash flow relates to an operating activity, an investing activity, or a financing activity.
Cash receipts from customers for services rendered
Sale of long-term investments for cash
Acquisition of PPE for cash
Payment of income taxes
Bonds payable issued for cash
Payment of cash dividends declared in previous year
Purchase of short-term investments (not cash equivalents) for cash
Under which heading on the statement of cash flows is profit for the year considered a cash inflow?
Question 3 options:
cash activities
investing activities
financing activities
operating activities
What amount should be reported as net cash provided by investing activities?
What amount should be reported as cash balance at year-end?
Chapter 23 Solutions
College Accounting, Chapters 1-27
Ch. 23 - True/False The purpose of the statement of cash...Ch. 23 - Investing activities are those transactions...Ch. 23 - An increase in accounts receivable is deducted...Ch. 23 - Prob. 4TFCh. 23 - Prob. 5TFCh. 23 - Prob. 1MCCh. 23 - Prob. 2MCCh. 23 - Prob. 3MCCh. 23 - Prob. 4MCCh. 23 - Prob. 5MC
Ch. 23 - Prob. 1CECh. 23 - Prob. 2CECh. 23 - Prob. 3CECh. 23 - Prob. 4CECh. 23 - Prob. 5CECh. 23 - Prob. 6CECh. 23 - Prob. 7CECh. 23 - Prob. 8CECh. 23 - Prob. 1RQCh. 23 - Prob. 2RQCh. 23 - Prob. 3RQCh. 23 - Prob. 4RQCh. 23 - Prob. 5RQCh. 23 - Prob. 6RQCh. 23 - Prob. 7RQCh. 23 - Prob. 8RQCh. 23 - Prob. 9RQCh. 23 - Prob. 10RQCh. 23 - Prob. 11RQCh. 23 - Prob. 12RQCh. 23 - Prob. 13RQCh. 23 - Prob. 14RQCh. 23 - Prob. 15RQCh. 23 - Prob. 16RQCh. 23 - Prob. 17RQCh. 23 - Prob. 18RQCh. 23 - Prob. 19RQCh. 23 - Prob. 20RQCh. 23 - Prob. 21RQCh. 23 - SERIES A EXERCISES IDENTIFICATION OF OPERATING,...Ch. 23 - CHANGE IN CASH AND CASH EQUIVALENTS Olsen Companys...Ch. 23 - Prob. 3SEACh. 23 - Prob. 4SEACh. 23 - GAINS AND LOSSES ON THE SALE OF LONG-TERM ASSETS...Ch. 23 - Prob. 6SEACh. 23 - Prob. 7SEACh. 23 - CASH PAID FOR INTEREST Ball Companys income...Ch. 23 - Prob. 9SPACh. 23 - Prob. 10SPACh. 23 - COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn...Ch. 23 - EXPANDED STATE MENT OF CASH FLOWS Financial...Ch. 23 - Prob. 1SEBCh. 23 - Prob. 2SEBCh. 23 - Prob. 3SEBCh. 23 - Prob. 4SEBCh. 23 - Prob. 5SEBCh. 23 - Prob. 6SEBCh. 23 - Prob. 7SEBCh. 23 - Prob. 8SEBCh. 23 - Prob. 9SPBCh. 23 - Prob. 10SPBCh. 23 - COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES...Ch. 23 - EXPANDED STATEMENT OF CASH FLOWS Financial...Ch. 23 - MANAGING YOUR WRITING Direct Method A friend of...Ch. 23 - MASTERY PROBLEM Financial statements for...Ch. 23 - CHALLENGE PROBLEM The long-term liabilities...
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- Calculator Cash paid to purchase long-term investments would be reported in the statement of cash flows in a. the cash flows from operating activities section. b. the cash flows from financing activities section. C. the cash flows from investing activities section. d. a separate schedule. 4:09 PM 12/20/2019arrow_forwardEntities are required to issue general purpose financial statements at least a. Once a month b. Once a year c. Twice a year d. Once a quarter This statement shows the entity's assets, liabilities, and equity of a particular date a. Statement of profit or loss and other comprehensive income b. Statement of financial position c. Statement of cash flows d. Notes to financial statements In the Statement of cash flows, the most important source of cash that serves as barometer about the health of business cash flows, come from a. Cash flows from investing activities b. Cash flows from operating activities c. Cash flows from investing activities d. Cash flows from borrowing activitiesarrow_forwardOPERATING ACTIVITIES WHAT IS THE CASH COLLECTED FROM CUSTOMERS DURING THE YEAR?arrow_forward
- Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement. (a) (b) 1. Payments of short-term debt. AnswerOperatingInvestingFinancing AnswerAddSubtract 2. Repurchases of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 3. Purchases of property and equipment. AnswerOperatingInvestingFinancing AnswerAddSubtract 4. Sale of investments classified as long-term. AnswerOperatingInvestingFinancing AnswerAddSubtract 5. Proceeds from the issuance of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 6. Increase in prepaid expenses and other current assets. AnswerOperatingInvestingFinancing AnswerAddSubtract 7. Acquisition for cash of a competitor.…arrow_forwardClassifying Cash Flows Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of cash flows: a. Purchase of investments b. Purchase of equipment c. Payment for selling expenses d. Collection of accounts receivable e. Cash received from customers f. Issuance of bonds payablearrow_forwardQuinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities?arrow_forward
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