Novak Corporation is preparing its 2010 statement of cash flows, using the indirect method. Presented below is
Question:
Novak Corporation is preparing its 2010 statement of cash flows, using the indirect method. Presented below is a list of items that may affect the statement. Using the code below, indicate how each item will affect Novak's 2010 statement of cashflows.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Items Code Letter A D R-1 P-I R-F P-F N Effect Added to net income in the operating section Deducted from net income in the operating section Cash receipt in investing section Cash payment in investing section Cash receipt in financing section Cash payment in financing section Noncash investing and/or financing activity (a) Purchase of land and building. (b) Decrease in accounts receivable. (c) Issuance of stock. (d) Depreciation expense. (e) Sale of land at book value. (f) Sale of land at a gain. (g) Payment of dividends. (h) Increase in accounts receivable. (i) Purchase of available-for-sale investment. (j) Increase in accounts payable. (k) Decrease in accounts payable. (1) Loan from bank by signing note. (m) Purchase of equipment using a note. (n) Increase in inventory. (0) Issuance of bonds. (p) Retirement of bonds payable. (q) Sale of equipment at a loss. Purchase of treasury stock. (r)
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Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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