Exercise

Exercise 23-1A

Identification of Operating, Investing, and Financing Activities

Learning Objective 2

The following activities took place during the current year. Select whether each activity is a cash inflow (+) or cash outflow (“), ANDwhether it is an operating activity (O), an investing activity (I), or a financing activity (F).

a.  
Proceeds from collection of principal amount of loans made to borrowers

b.  
Cash receipts from the sale of goods

c.  
Payments for interest on loans

d.  
Payments of dividends to stockholders

e.  
Payments to acquire investments in debt securities

f.  
Dividends received on investments made in the stock of other corporations

g.  
Repayment of the principal on loans

h.  
Interest received on loans made to outside entities

i.  
Salaries paid to employees

j.  
Payments to acquire property, plant, and equipment and other productive assets

k.  
Payments to purchase treasury stock

l.  
Proceeds from the sale of common stock


 

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EACH LETTER SHOULD HAVE 2 ANSWERS

Problem 23-10A

Statement of Cash Flows

Learning Objective 7

Mueller Company™s condensed income statement for the year ended December 31, 20-2, was as follows:

Additional information obtained from Mueller™s comparative balance sheets as of December 31, 20-2 and 20-1, was as follows:

The following additional information was obtained from Mueller™s financial statements and auxiliary records for the year ended December 31, 20-2:

Required:




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Prepare a statement of cash flows for Mueller for the year ended December 31, 20-2.

Mueller Company

Statement of Cash Flows

For Year Ended December 31, 20-2

Cash flows from operating activities:



Adjustments for changes in current assets and liabilities related to operating activities:







Net cash provided by operating activities


Cash flows from investing activities: