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Analysis of an income statement balance sheets and additional information from the accounting records of Gaming Strategies reveal the following items

Analysis of an income statement, balance sheets, and additional information from the accounting records of Gaming Strategies reveal the following items:

 

1.  Collection of notes receivable.

2.  Purchase of equipment.

3.  Exchange of long-term assets.

4.  Decrease in accounts payable.

5.  Payment of dividends.

6.  Purchase of a patent.

7.  Depreciation expense.

8.  Decrease in accounts receivable.

9.  Issuance of note payable.

10. Increase in inventory.

 

Indicate in which section of the statement of cash flows each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or noncash activities.

 

 

 

129. Place the following items in the correct order as they would appear in the statement of cash flows:

1. Beginning cash balance

2. Ending cash balance

3. Investing activities

4. Financing activities

5. Net increase (decrease) in cash

6. Operating activities

 

 

130. Electronic Wonders reports net income of $95,000. The accounting records reveal Depreciation Expense of $50,000 as well as increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $40,000, $23,000, and $20,000, respectively. Prepare the operating activities section of Electronic Wonders' statement of cash flows using the indirect method.

Jan 27 2020 View more View Less

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