Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5 Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate column. a. Purchased land by issuing a note b. Collected cash from sales c. Paid cash toward accounts payable d. Sold inventory for cash e. Retired long-term notes payable by issuing common stock t. Recorded depreciation expense g. Paid cash for interest owed h. Paid cash toward taxes owed Borrowed cash from bank by signing a nine-year note payable Paid cash to purchase a patent Statement of Cash Flows Investing Activities Operating Activities Financing Activities Noncash Investing and Financing Activities Not Reported on Statement or in Notes
Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5 Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate column. a. Purchased land by issuing a note b. Collected cash from sales c. Paid cash toward accounts payable d. Sold inventory for cash e. Retired long-term notes payable by issuing common stock t. Recorded depreciation expense g. Paid cash for interest owed h. Paid cash toward taxes owed Borrowed cash from bank by signing a nine-year note payable Paid cash to purchase a patent Statement of Cash Flows Investing Activities Operating Activities Financing Activities Noncash Investing and Financing Activities Not Reported on Statement or in Notes
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.19E
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![Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5
Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate
column.
a. Purchased land by issuing a note
b. Collected cash from sales
c. Paid cash toward accounts payable
d. Sold inventory for cash
e. Retired long-term notes payable by issuing common stock
f. Recorded depreciation expense
g. Paid cash for interest owed
h. Paid cash toward taxes owed
L. Borrowed cash from bank by signing a nine-year note payable
Paid cash to purchase a patent
Statement of Cash Flows
Investing
Activities
Operating
Activities
Financing
Activities.
Noncash
Investing and
Financing
Activities
Not Reported on
Statement or in
Notes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F03194789-1d56-4fe2-a899-94223a7dc78f%2Fd144c08c-48cc-4876-929b-49b4f6dea235%2Feqhqyk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5
Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate
column.
a. Purchased land by issuing a note
b. Collected cash from sales
c. Paid cash toward accounts payable
d. Sold inventory for cash
e. Retired long-term notes payable by issuing common stock
f. Recorded depreciation expense
g. Paid cash for interest owed
h. Paid cash toward taxes owed
L. Borrowed cash from bank by signing a nine-year note payable
Paid cash to purchase a patent
Statement of Cash Flows
Investing
Activities
Operating
Activities
Financing
Activities.
Noncash
Investing and
Financing
Activities
Not Reported on
Statement or in
Notes
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