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1 Sep 2018
EXERCISE 14-1 Classifying Transactions (L014-1] Below are certain events that took place at Hazzard, Inc., last year: a. Collected cash from customers. b. Paid cash to repurchase its own stock. c. Borrowed money from a creditor. d. Paid suppliers for inventory purchases. e. Repaid the principal amount of a debt. f. Paid interest to lenders. g. Paid a cash dividend to stockholders. h. Sold common stock. i. Loaned money to another entity. j. Paid taxes to the government. k. Paid wages and salaries to employees. 1. Purchased equipment with cash. m. Paid bills to insurers and utility providers. Required: Prepare an answer sheet with the following headings: Activity Investing Transaction Operating Financing Etc. Enter the cash inflows and outflows above on your answer sheet and indicate how each of them would be classified on a statement of cash flows. Place an X in the Operating. Investing, or Financ- ing column as appropriate.
EXERCISE 14-1 Classifying Transactions (L014-1] Below are certain events that took place at Hazzard, Inc., last year: a. Collected cash from customers. b. Paid cash to repurchase its own stock. c. Borrowed money from a creditor. d. Paid suppliers for inventory purchases. e. Repaid the principal amount of a debt. f. Paid interest to lenders. g. Paid a cash dividend to stockholders. h. Sold common stock. i. Loaned money to another entity. j. Paid taxes to the government. k. Paid wages and salaries to employees. 1. Purchased equipment with cash. m. Paid bills to insurers and utility providers. Required: Prepare an answer sheet with the following headings: Activity Investing Transaction Operating Financing Etc. Enter the cash inflows and outflows above on your answer sheet and indicate how each of them would be classified on a statement of cash flows. Place an X in the Operating. Investing, or Financ- ing column as appropriate.
Nelly StrackeLv2
4 Sep 2018
