Question
Question 7. (6 Marks) Place an X in the appropriate columns for each of the following situations to indicate how amounts are classified and how
Question 7. (6 Marks)
Place an X in the appropriate columns for each of the following situations to indicate how amounts are classified and how or whether cash is affected:
| Situation | Operating Activity | Investing Activity | Financing Activity | Effect on Cash | ||
| Inflow (+) | Outflow (-) | No Effect | ||||
| a. Paying off accounts payable with cash.
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| b. Issuance of bonds for cash.
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| c. Retirement of common stock with cash.
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| d. Collection of accounts receivable with customer cash. |
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| e. Paid cash for inventory.
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| f. Acquired land by issuing common stock.
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
12th Canadian edition
133098230, 978-0132791564, 132791560, 978-0133098235
