York Company engaged in the following transactions for Year 1 . The beginning cash balance was $27,800 and the ending cash balance was $56,770. 1. Sales on account were $283,400. The beginning receivables balance was $94,300 and the ending balance was $77,500. 2. Salaries expense for the period was $55,020. The beginning salaries payable balance was $3,570 and the ending balance was $2,040. 3. Other operating expenses for the period were $129,090. The beginning other operating expenses payable balance was $4,370 and the ending balance was $8,255. 4. Recorded $19,100 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $13,630 and $32,730, respectively. 5. The Equipment account had beginning and ending balances of $210,740 and $239,540, respectively. There were no sales of equipment during the period. 6. The beginning and ending balances in the Notes Payable account were $46,500 and $149,000, respectively. There were no payoffs of notes during the period. 7. There was $6,413 of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $1,422 and $948, respectively. 8. The beginning and ending Inventory account balances were $88,150 and $105,780, respectively. The company sold merchandise with a cost of $154,513 (cost of goods sold for the period was $154,513 ). The beginning and ending balances in the Accounts Payable account were $9,860 and $11,931, respectively. 9. The beginning and ending balances in the Notes Receivable account were $5,100 and $10,600, respectively. Notes receivable result from long-term loans made to employees. There were no collections from employees during the period. 10. The beginning and ending balances in the Common Stock account were $103,000 and $118,000, respectively. The increase was caused by the issue of common stock for cash. 11. Land had beginning and ending balances of $53,100 and $40,262, respectively. Land that cost $12,838 was sold for $9,470, resulting in a loss of $3,368. 12. The tax expense for the period was $8,200. The Taxes Payable account had a beginning balance of $1,090 and an ending balance of $1,004 13. The Investments account had a beginning balance of $29,000 and an ending balance of $31,900, respectively. The company purchased investments for $17,900 cash during the period, and investments that cost $15,000 were sold for $21,000, resulting in a gain of $6,000. Required a. Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume York Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. If there is no action select "No effect".)
