The following transactions and events occurred during the year. Assuming that this company uses the indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an x in the appropriate column.Statement of Cash Flows (Indirect Method)?OperatingActivitiesInvestingActivitiesFinancingActivitiesNoncashInvesting &FinancingPaid cash for operating expenses????Issued common stock for land????Accounts receivable decreased in the year????Recorded depreciation expense????Income taxes payable increased during the year????Sold equipment for cash, yielding a gain????Paid cash for interest expense????Purchased land by for cash????Purchased long-term
investment in bonds????Paid cash for retirement of note payable????
What will be an ideal response?
| Statement of Cash Flows (Indirect Method) |
| ? | Operating Activities | Investing Activities | Financing Activities | Noncash Investing & Financing |
| Paid cash for operating expenses | X | ? | ? | ? |
| Issued common stock for land | ? | ? | ? | X |
| Accounts receivable decreased in the year | X | ? | ? | ? |
| Recorded depreciation expense | X | ? | ? | ? |
| Income taxes payable increased during the year | X | ? | ? | ? |
| Sold equipment for cash, yielding a gain | ? | X | ? | ? |
| Paid cash for interest expense | X | ? | ? | ? |
| Purchased land by for cash | ? | X | ? | ? |
| Purchased long-term investment in bonds | ? | X | ? | ? |
| Paid cash for retirement of note payable | ? | ? | X | ? |
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