The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a(n): (Click the icon to view the items.) The indirect method is used to report cash flows from operating activities. a. Loss on sale of land. More Info Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F-) Non-cash investing and financing activity (NIF) Activity that is not used to prepare the indirect statement of cash flows (N)

The statement of cash flows categorizes like transactions for optimal reporting. Identify each item as a(n): (Click the icon to view the items.) The indirect method is used to report cash flows from operating activities. a. Loss on sale of land. More Info Operating activity-addition to net income (O+) or subtraction from net income (O-) Investing activity-cash inflow (I+) or cash outflow (I-) Financing activity-cash inflow (F+) or cash outflow (F-) Non-cash investing and financing activity (NIF) Activity that is not used to prepare the indirect statement of cash flows (N)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 16CE

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Similar questions

In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. collected accounts receivable from customers B. issued common stock for cash C. declared and paid dividends D. paid accounts payable balance E. sold a long-term asset for the same amount as purchased
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