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Houston Shoe Co

Question 148

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Houston Shoe Co.is preparing a statement of cash flows using the indirect method.Indicate on the blanks below whether each item is an operating activity ,an investing activity ,a financing activity ,a noncash transaction ,or an item that would not appear on or with Houston's statement .

Premises:
Depreciation expense
Borrowing by issuing bonds
The change in Inventory for the period
Proceeds from sale of long-term investments at a loss
Purchases of treasury stock
The change in Accounts Payable during the period
Purchase of equipment
Dividends paid
Collections from customers
Exchange of stock for a building
A gain on the sale of equipment
Income taxes paid
Responses:
investing activity
noncash transaction
with Houston's statement
financing activity
operating activity

Correct Answer:

Depreciation expense
Borrowing by issuing bonds
The change in Inventory for the period
Proceeds from sale of long-term investments at a loss
Purchases of treasury stock
The change in Accounts Payable during the period
Purchase of equipment
Dividends paid
Collections from customers
Exchange of stock for a building
A gain on the sale of equipment
Income taxes paid
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