A review of the financial records for Rogers Inc. uncovered the following items: a. Collected accounts receivable
Question:
a. Collected accounts receivable
b. Paid cash to purchase equipment
c. Received cash from the issuance of bonds
d. Paid interest on long-term debt
e. Sold equipment at book value
f. Depreciation on equipment
g. Issued common stock for land
h. Paid rent on building for the current period
i. Paid cash to settle an account payable
j. Declared and paid dividends to stockholders
k. Received cash dividend on investment
l. Repaid the principal amount of long-term debt
m. Amortization of a copyright
n. Sold a long-term investment at a gain
Rogers uses the indirect method to prepare the operating activities of its statement of cash flows.
Required:
Indicate whether each item should be classified as a cash flow from operating activities, a cash flow from investing activities, a cash flow from financing activities, or a noncash investing and financing activity.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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