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 $2-$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

$2.$ 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 $2-$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