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can someone help me indicate and why please? E17-2 An analysis of comparative balance sheets, the current year's income statement, Classify transe and the general
can someone help me indicate and why please?
E17-2 An analysis of comparative balance sheets, the current year's income statement, Classify transe and the general ledger accounts of Wellman Corp. uncovered the following items. Assume of activity. all items involve cash unless there is information to the contrary. (LO 1) (a) Payment of interest on notes payable. (h) Issuance of common stock. (b) Exchange of land for patent. (i) Amortipation of patent. (c) Sale of building at book value. () Issuance of bonds for land. (d) Payment of dividends. (k) Purchase of land. (e) Depreciation. (1) Conversion of bonds into common stock. (1) Receipt of dividends on investment (m) Sale of land at a loss. in stock. (n) Retirement of bonds. (g) Receipt of interest on notes receivable. Instructions Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity, and significant noncash investing and financing activity Step by Step Solution
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