Holt Statement of Cash flows Icebreaker Exercise F$23$

Practice Problem $1$

For a merchandising company, classify the following cash flows as operating, investing or financing activities in accordance with U$.$S GAAP and IFRS:

$\backslash$table$[[$Cash Flow Transaction,Type of Activity$-$ US GAAP,Type of Activity$-$ IFRS$],[$Interest received,,$],[\backslash$table$[[$Increase in bank overdraft$],[($this is repayable upon demand$)]],,],[$Dividends paid,,$],[$Cash payments to suppliers,,$],[$Sold Land for cash,,$],[$Receipts from sale of goods,,$],[$Interest paid,,$],[$Dividends received,,$],[\backslash$table$[[$Income tax paid on the sale of an$],[$investment property$]],,]]$