The following transactions and events occurred by Smiley Enterprise during year 2019. Assuming that the company uses indirect method to report cash provided by operating activities. 1. Accepted six-month note receivable in exchange for property, plant and equipment. 2. Accounts receivable decreased in the year. 3. Paid cash to settle long-term note payable. 4. Declared and paid a cash dividend. 5. Paid cash to purchase a new office computer. 6. Recorded depreciation expense. 7. Purchase land by issuing ordinary shares. 8. Prepaid expenses increased in the year. 9. Exchange the bond payable into common shares. 10. Sold equipment for cash, yielding a loss. 11. Accounts payable decreased in the year. 12. Sold long-term investments for cash. 13. Issued ordinary shares for cash.
The following transactions and events occurred by Smiley Enterprise during year 2019. Assuming that the company uses indirect method to report cash provided by operating activities. 1. Accepted six-month note receivable in exchange for property, plant and equipment. 2. Accounts receivable decreased in the year. 3. Paid cash to settle long-term note payable. 4. Declared and paid a cash dividend. 5. Paid cash to purchase a new office computer. 6. Recorded depreciation expense. 7. Purchase land by issuing ordinary shares. 8. Prepaid expenses increased in the year. 9. Exchange the bond payable into common shares. 10. Sold equipment for cash, yielding a loss. 11. Accounts payable decreased in the year. 12. Sold long-term investments for cash. 13. Issued ordinary shares for cash.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 2E
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hi. i need the answer for this question.
clasified each of the transaction as either operating activity, investing, financing activity or non cash investing and financing activity
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