70.2K

Verified Solution

Link Copied!

E Homework: Chapter 13 Homework Question 3, S13-4 (simil... Part 5 of 9 HW Score: 92.45%, 18.49 of 20 points Points: 0.45 of 1 Save For each of the following situations, identify whether the activity is an operating, investing, or financing activity and compute the cash provided or used by the activity. The Indirect method is used. (An activity may have more than one category. Be sure to select only the type of activity that applies. Combine the total for each type of cash flow on one line. Enter all values as positive numbers. Leave unused input fields blank.) Operating (0) Investing (0) Financing (F) Amount of Cash Flow Increase (+) Decrease (-) Activity Net income was $28,000 for the year, Accounts receivable increased by $4,000, and accounts payable increased by $2,000. There were no other changes in the noncash current assets and current liabilities. C. There was no depreciation for the year. (0) $ 26,000 Operating (0) Investing (1) Financing (F) Amount of Cash Flow Increase (+) Decrease (-) Activity Bonds payable with a face value of $53,000 were retired with a cash payment for their face value. New bonds were issued later in the year d. for $37,000 (F) $ 16,000 Operating (0) Investing (0) Financing (F) Amount of Cash Flow Increase (*) Decrease (-) Activity Bonds payable were retired for their face value of $68,000 (cash paid). Cash dividends of $15,000 were also paid. A new long-term note e payable was signed for cash proceeds of $24,000. (F) Help me solve this Video Get more help Clear all Check

Answer & Explanation Solved by verified expert

See Answer