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ACC206 - Principles of Accounting II � AU

This paper explores principles of accounting at an advanced level, emphasizing topics such as long-term liabilities and cash flow statements.

Benjamin Fisher
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ACC206-Principles of Accounting II–AUE14-13-Classifyingcash flow statement-ACC206-Principles of Accounting II–AUE14-13Classifying items on the indirect statement of cash flows [5–10min]The cash flow statement categorizes like transactions for optimal reporting.Requirement1.Identify each of the following transactions as one of the following:•Operating activity (O)•Investing activity (I)•Financing activity (F)•Noncash investing and financing activity (NIF)•Transaction that is not reported on the statement of cash flows (N)For each cash flow, indicate whether the item increases (+) or decreases (–) cash. Theindirectmethod is used to report cash flows from operating activities.(5-10 min.)E 14-13Req. 1O+a.Loss on sale of landI+i.Cash sale of landNIFb.Acquisition of equipmentF+j.Issuance of long-term noteby issuance of notepayable to borrow cashpayableF–c.Payment of long-term debtO+k.DepreciationNIFd.Acquisition of building byF–l.Purchase of treasury stockissuance of common stock

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Document Details

University
Ashford University
Subject
Accounting

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