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(Solved) (Latest ver. Aug 2020) - Match Accounting Terms with Descriptions

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Question:

Please see the attachment.

1.(8pts) Match as many of the descriptions as possible with one of the terms. If no match is possible, answer "7." Place the number to the right of the letter below.

a.Reports the major classes of operating cash receipts and payments of an entity during a period

b.Investing and financing activities which should not be disclosed because they do not involve cash

c.Investing and financing activities which should be disclosed, but not in the cash flow statement itself

d.Net income before the expense of interest and taxes

e.Include acquisition and disposition of property, plant, and equipment

f.Include acquisition of cash from shareholders and creditors

g.Include transactions relating to a company's delivering or producing its goods for sale and providing its services

h.Begins with net income and makes adjustments as needed to arrive at net cash from operations
1.direct method
2.financing activities
3.indirect method
4.investing activities
5.noncash investing and financing activities
6.operating activities
7.no match

a.
b.
c.
d.
e.
f.
g.
h.

2.(12 pts)Using the following symbols, indicate:

1. How each of the following activities should be classified on the statement of cash flows, and
2. Whether the transaction would result in an increase or a decrease in cash.

(1) (2)
Classification Effect on Cash

OP = Operating activity I = Increase
IN = Investing activity D = Decrease
FI = Financing activity

1 2
IN I EXAMPLE: Equipment was sold for $100,000.

_____ _____ 1. Cash dividends of $20,000 were paid.

_____ _____ 2. $40,000 was borrowed on a bank loan.

_____ _____ 3. A factory building was purchased for $800,000.

_____ _____ 4. Interest of $5,000 was paid.

_____ _____ 5. Capital stock was issued for $200,000.

_____ _____ 6. $15,000 was received from customers.

 







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