MAND Indicate how each of the following events should be classified in a statement of cash flows for the current calendar year. Use the following code: 0= operating activities, I= investing activities, and F= financing activities. Classification of cash flows for Mandarin Foods Assume this company uses the direct method. If the event does not involve a cash flow that should be included in the statement of cash flows, use an X. (a) Declared a dividend to be paid early next year. (b) Recorded depreciation expense for the current year. (c) At year-end, paid rent in advance for the next six months. d) Issued canital stock for cash: management plans to use this cash to invest in marketable securities.
MAND Indicate how each of the following events should be classified in a statement of cash flows for the current calendar year. Use the following code: 0= operating activities, I= investing activities, and F= financing activities. Classification of cash flows for Mandarin Foods Assume this company uses the direct method. If the event does not involve a cash flow that should be included in the statement of cash flows, use an X. (a) Declared a dividend to be paid early next year. (b) Recorded depreciation expense for the current year. (c) At year-end, paid rent in advance for the next six months. d) Issued canital stock for cash: management plans to use this cash to invest in marketable securities.
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
Chapter12: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12.21MCE
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