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Classifying and Analyzing Business Activities CTT Inc. reported the following business activities: Required: that CTT uses the indirect method. a . Purchased property, plant, and
Classifying and Analyzing Business Activities CTT Inc. reported the following business activities: Required: that CTT uses the indirect method. a Purchased property, plant, and equipment for cash b Purchased merchandise inventory for cash c Recorded depreciation on property, plant, and equipment d Issued common stock for cash e Purchased merchandise inventory on credit f Collected cash sales from customers g Paid cash dividends h Purchased a year insurance policy for cash i Paid salaries of employees j Borrowed cash by issuing a note payable k Sold property, plant, and equipment for cash I. Paid cash for principal amount of mortgage m Paid interest on mortgage For each activity that is reported on the statement of cash flows, indicate whether it produces a cash inflow, cash outflow, or no cash effect. a Purchased property, plant, and equipment for cash h Durrhaced merchandice inventenu for cach For each activity that is reported on the statement of cash flows, indicate whether it produces a cash inflow, cash outflow, or no cash effect. a Purchased property, plant, and equipment for cash b Purchased merchandise inventory for cash c Recorded depreciation on property, plant, and equipment d Issued common stock for cash e Purchased merchandise inventory on credit f Collected cash sales from customers g Paid cash dividends h Purchased a year insurance policy for cash i Paid salaries of employees j Borrowed cash by issuing a note payable k Sold property, plant, and equipment for cash I. Paid cash for principal amount of mortgage m Paid interest on mortgage 
Classifying and Analyzing Business Activities
CTT Inc. reported the following business activities:
Required: that CTT uses the indirect method.
a Purchased property, plant, and equipment for cash
b Purchased merchandise inventory for cash
c Recorded depreciation on property, plant, and equipment
d Issued common stock for cash
e Purchased merchandise inventory on credit
f Collected cash sales from customers
g Paid cash dividends
h Purchased a year insurance policy for cash
i Paid salaries of employees
j Borrowed cash by issuing a note payable
k Sold property, plant, and equipment for cash
I. Paid cash for principal amount of mortgage
m Paid interest on mortgage
For each activity that is reported on the statement of cash flows, indicate whether it produces a cash inflow, cash outflow, or no cash effect.
a Purchased property, plant, and equipment for cash
h Durrhaced merchandice inventenu for cach
For each activity that is reported on the statement of cash flows, indicate whether it produces a cash inflow, cash outflow, or no cash effect.
a Purchased property, plant, and equipment for cash
b Purchased merchandise inventory for cash
c Recorded depreciation on property, plant, and equipment
d Issued common stock for cash
e Purchased merchandise inventory on credit
f Collected cash sales from customers
g Paid cash dividends
h Purchased a year insurance policy for cash
i Paid salaries of employees
j Borrowed cash by issuing a note payable
k Sold property, plant, and equipment for cash
I. Paid cash for principal amount of mortgage
m Paid interest on mortgage
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
