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Classifying inflows and outflows of cash Classify each of the following items as an inflow (I) or an outflow (O) of cash
Classifying inflows and outflows of cash
Classify each of the following items as an inflow (I) or an outflow (O) of cash.
| Items | Change ($) |
| Cash | +150 |
| Acc Payable | +1100 |
| Notes Payable | -530 |
| Fixed assets | +550 |
| Sale of stock | +950 |
| Depreciation | +110 |
| Cash dividends | +540 |
| Accounts Receivable | -460 |
| Inventory | -160 |
| Repurchase of stock | +475 |
| Long term debt | -1890 |
| net profit | +380 |
Expert Solution
Solution:
Items. Change ($). REMARKS
Cash. +150. Inflow
Acc payable. +1100. Inflow
Notes payable. -530. Outflow
Fixed Assets. +550. Outflow
Sale of stock. +950. Inflow
Depreciation. +110. Non cash item
Cash Dividends. +540 Inflow
Account receivable. -460. Inflow
Inventory. -160. Inflow
Repurchase of stock. +475. Outflow
Long term debt. -1890. Outflow
Net profit. +380. Non cash item
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