Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i need help with this assignment chapter 14: cl

i need help with this assignment Chapter 14: Classifying items on the...

90.2K

Verified Solution

Question

Accounting

i need help with this assignment image
Chapter 14: Classifying items on the indirect statement of cash flows Learning Objective 1, 2 Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: a. Increase in accounts payable b. Payment of dividends c. Decrease in accrued liabilities d. Issuance of common stock e. Gain on sale of building f. Loss on sale of land g. Depreciation expense h. Increase in merchandise inventory i. Decrease in accounts receivable j. Purchase of equipment k. Acquire land and a building by issuance of notes payable Identify each item as a(n): Operating activity addition to net income (0+) or subtraction from net income (0-) Investing activity-cash inflow (1+) or cash outflow (1) Financing activity-cash inflow (Ft) or cash outflow (F-) Non-cash investing and financing activity (NIF) Activity that is not used to prepare the indirect statement of cash flows (N)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students