Solved

Alfred Company Manufactures Men's Clothing

Question 104

Essay

Alfred Company manufactures men's clothing.During 2010,the company reported the following items that affected cash.Indicate whether each of these items is a cash flow from operating activities (O),investing activities (I),or financing activities (F).

 Purchased equipment by paying cash: Collected cash on account from customers: Paid dividends to stockholders: Paid cash for supplies: Paid suppliers for fabric: Borrowed money from bank on a long-term note: Paid interest to bank on the note: Paid wages to employees: Sold shares of stock to new stockholders:\begin{array}{lccc}\text { Purchased equipment by paying cash:} & ------\\\text { Collected cash on account from customers:} &------\\\text { Paid dividends to stockholders:} &------\\\text { Paid cash for supplies:} &------\\\text { Paid suppliers for fabric:} &------\\\text { Borrowed money from bank on a long-term note:} &------\\\text { Paid interest to bank on the note:} &------\\\text { Paid wages to employees:} &------\\\text { Sold shares of stock to new stockholders:} &------\\\end{array}

 1. Sold shares of stock to new stockholdersI2 2. Purchased equiprnent by paying cashO5 3. Paid wages to employeesF7 4. Borrowed money fran bark on a long-tern noteO6 5. Collected cash on account from customersO8 6. Paid cash for suppliesF4 7. Paid dividends to stockholdersO9 8. Paid suppliers for fabricO3 9. Paid interest to bark on the noteF1\begin{array}{ll}\text { 1. Sold shares of stock to new stockholders} & I & \underline2 \\\text { 2. Purchased equiprnent by paying cash} & O & \underline5 \\\text { 3. Paid wages to employees} & F & \underline7\\\text { 4. Borrowed money fran bark on a long-tern note} & O & \underline6 \\\text { 5. Collected cash on account from customers} & O & \underline8\\\text { 6. Paid cash for supplies} & F & \underline 4\\\text { 7. Paid dividends to stockholders} & O & \underline9 \\\text { 8. Paid suppliers for fabric} & O & \underline3 \\\text { 9. Paid interest to bark on the note} &F & \underline1\end{array}

Correct Answer:

Answered by Quizplus AI

Answered by Quizplus AI

The cash flow from each activity is as f...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents