Question
Indicate how each of the following events should be classified in a statement of cash flows for the current calendar year. Use the following code:
Indicate how each of the following events should be classified in a statement of cash flows for the current calendar year. Use the following code: O = operating activities, I = investing activities, and F = financing activities Assume use of the direct method. If the event does not involve a cash flow that should be included in the statement of cash flows, use an X.
3.1. Paid an account payable for inventory purchased in a prior accounting period = __________
3.2. On December 28, made a large credit sale; terms, 2/10, n/30 = ___________
3.3. Received a dividend from an investment in IBM common stock = ___________
3.4. Paid a dividend to stockholders = _____________
3.5. Paid the interest on a note payable to First Bank = ____________
3.6. Paid the principal amount due on the note payable to First Bank = ______________
3.7. Transferred cash from a checking account into a money market fund = ______________
3.8. Made an adjusting entry to record accrued wages payable at the end of the period = ___________
3.9. Recorded depreciation expense for the current year = ____________
3.10. Purchased plant assets for cash = __________
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