Problem D (22 points) -STATEMENT OF CASH FLOWs- INSTRUCTIONS: Selected changes i

Question

Problem D (22 points) -STATEMENT OF CASH FLOWs- INSTRUCTIONS: Selected changes in various accounts during a fiscal year are described below. By the use ofx's, indicate the section of the statement of cash flows (indirect or direct method) in which the change is reported. If the item described is not reported, so indicate. Section of Statement of Cash Flows Operating Investing Financing Not For ActivitiesActivities Activities Reported Scoring CHANGES IN ACCOUNTS 0. 0. Merchandise Inventory-net increase 1. Retained Earnings-debit for stock dividends distributed 2. Common Stock-credit for issuance at par for cash 3. Bonds Payable-debit for redemption of bonds 4. Prepaid Insurance-net increase 5. Accounts Receivable-net decrease.... 6. Retained Earnings-debit for net loss 7. Accounts Payable-net increase 8. Bonds Payable-credit for issuance for cash 9. Retained Earnings-debit for cash dividends paid 2. 3. 5. 6 10. 10. Machinery-credit for items sold 11. Other Intangible Assets

Explanation / Answer

Section of Statement of Cash Flows Changes in Accounts Operating Activities Investing Activities Financing Activities Not Reported 1 X 2 X 3 X 4 X 5 X 6 X 7 X 8 X 9 X 10 X 11 X (If purchased or sold for cash) X (If change is due to amortization)

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