You are provided with the following transactions that took place during a recent fiscal year. Complete the table indicating whether each item affects operating activities, investing activities, financing activities, or is a noncash transaction reported in a separate schedule, and represents a cash inflow or cash outflow or has no cash flow effect. Assume use of the indirect approach.
Transaction Statement of Cash Flow Activity Affected Cash Inflow, Outflow, or No Effect?
(a) Recorded depreciation expense on the plant assets. Financing ActivityNoncash TransactionOperating ActivityInvesting Activity Cash InflowNo Cash Flow EffectCash Outflow
(b) Recorded and paid interest expense. Investing ActivityOperating ActivityFinancing ActivityNoncash Transaction Cash InflowNo Cash Flow EffectCash Outflow
(c) Recorded cash proceeds from a disposal of plant assets. Operating ActivityInvesting ActivityFinancing ActivityNoncash Transaction No Cash Flow EffectCash OutflowCash Inflow
(d) Acquired land by issuing common stock. Investing ActivityNoncash TransactionFinancing ActivityOperating Activity Cash InflowNo Cash Flow EffectCash Outflow
(e) Paid a cash dividend to preferred stockholders. Noncash TransactionOperating ActivityInvesting ActivityFinancing Activity Cash InflowCash OutflowNo Cash Flow Effect
(f) Paid a cash dividend to common stockholders. Investing ActivityOperating ActivityFinancing ActivityNoncash Transaction No Cash Flow EffectCash OutflowCash Inflow
(g) Recorded cash sales. Investing ActivityFinancing ActivityNoncash TransactionOperating Activity Cash InflowCash OutflowNo Cash Flow Effect
(h) Recorded sales on account. Operating ActivityNoncash TransactionInvesting ActivityFinancing Activity Cash InflowNo Cash Flow EffectCash Outflow
(i) Purchased inventory for cash. Financing ActivityNoncash TransactionInvesting ActivityOperating Activity No Cash Flow EffectCash OutflowCash Inflow
(j) Purchased inventory on account. Financing ActivityNoncash TransactionOperating ActivityInvesting Activity Cash OutflowCash InflowNo Cash Flow Effect
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You are provided with the following transactions that took place during a recent fiscal year. Comple...
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