Business, 03.07.2021 03:10 smartgirl2092

For each of the below, indicate where each item should be presented in the statement of cash flows (using the indirect method) using the legend below. Also, indicate how cash flows are affected. Legend for BLANK 1: A - operating activities B - investing activities C - financing activities D - significant noncash investing and financing activities Legend for BLANK 2: I - Increase D - Decrease N - No effect

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Answer from: Mw3spartan17

Blank 1 Blank 2

i. Depreciation expense A I

ii. Purchase of office equipment B D

iii. Decrease in accounts receivable A I

iv. Payment of cash dividends C D

v. Conversion of bonds into common stock D N

vi. Sold land and warehouse used in the corp. B I

vii. Gain on sale of land and warehouse in part vi. A D

viii. Issued common stock for cash C I

ix. Decrease in accounts payable A D

x. Increase in inventory A D

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.

How each of the item will appear in the the statement of cash flows (using the indirect method) is also provided below:

XYZ Company

Statement of Cash Flows (Indirect Method Format)

For the year...

Details $ $

Operating activities:

Net profit xxx

Adjustment to reconcile net income:

i. Depreciation expense xx

iii. Decrease in accounts receivable xx

vii. Gain on sale of land and warehouse in part vi. (xx)

ix. Decrease in accounts payable (xx)

x. Increase in inventory (xx)

Net cash flows from operating activities xxx

Investing activities:

ii. Purchase of office equipment (xx)

vi. Sold land and warehouse used in the corporation xx

Net cash flows from investing activities xxx

Financing activities:

iv. Payment of cash dividends (xx)

viii. Issued common stock for cash xx

Net cash flows from investing activities xxx

Net cash flow for the year xxx

Beginning cash balance xxx

Ending cash balance xxx

Note: The does not affect the cash flows statement:

v. Conversion of bonds into common stock

Answer from: Quest

answer; foreign exchange transaction;

Answer from: Quest

She would grey the one and it is correct

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