Following are selected balance sheet accounts of Del Conte Corporation at December and and the Increases or
decreases in each account from to Also presented is selected Income statement information for the year ended
December and additional Information.
Additional Information:
a Accounts recelvable relate to sales of merchandise.
b During equipment costing $ was sold for cash.
c During bonds payable with a face value of $ were Issued in exchange for property, plant, and equipment. There
was no amortization of bond discount or premlum.
Required:
Items through represent activities that will be reported in Del Conte's statement of cash flows for the year ended December
The following two responses are required for each Item:
a Determine the amount that should be reported in Del Conte's statement of cash flows.
b Select the category Ie Operating activity, Investing activity and Financing activity in which the amount should be reported in
the statement of cash flows.
Answer is complete but not entirely correct.
