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Wi-Fi, Inc., has the following selected transactions during the year. Required: Select the section of the statement of cash flows in which each of these
Wi-Fi, Inc., has the following selected transactions during the year. Required: Select the section of the statement of cash flows in which each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note. Transactions Activities 1. Issues $20 million in bonds. 2 Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4 Collects a $15,000 account receivable. 5 Exchanges land for a new patent. Both are valued at $300,000. 6.Declares and pays a cash dividend of $100,000 7. Loans $50,000 to a customer, accepting a note receivable. 8. Pays $75,000 to suppliers for inventory
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