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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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Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685

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FindFindarrow_forward

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 16, Problem 2EB
Textbook Problem
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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

To determine

Concept introduction:

Cash flows from operating activities:

Cash flow from operating activities section is the first section of the statement of cash flows. This section includes the cash activities relating to day to day operating business activities. For example: purchase or sale of inventory and payment of operating expenses.

Cash Flows from investing activities:

Cash flow from investingactivities section is the second section of the statement of cash flows. This section includes the cash activities relating sale or purchase of immovable assets or investments. For example: purchase or sale of equipment.

Cash flows from financing activities:

Cash flow from financing activities section is the last section of the statement of cash flows. This section includes the cash activities relating to procurement of capital fund in the business. For example: Issuance of shares and payment of dividend.

To identify:

The type of activity for each cash flow transaction

Explanation of Solution

The type of activity for each cash flow transaction is explained as follows:

Transaction # Type of Activity
A O Collection from customers is an operating activity
B

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Chapter 16 Solutions

Principles of Accounting Volume 1
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