Determining use of indirect approach

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You are provided with the following transactions that took place during a recent fiscal year. Complete the table indicating whether each item (1) should be reported as an operating (O) activity, investing (I) activity, financing (F) activity, or as a noncash (NC) transaction reported in a separate schedule, and (2) represents a cash inflow or cash outflow or has no cash flow effect. Assume use of the indirect approach.

a) Recorded depreciation expense on the plant assests.

b) Recorded and paid interest expense.

c) Recorddded cash proceeds from a sale of plant assets

d) Acquired land by issuing common stock.

e) Paid a cas dividend to preferred stockholders.

f) Distributed a stock dividend to common Stockholders.

g) Recorded cash sales

h) Recorded sales on account

i) Purchased inventory for cash

j) Purchased inventory on account

Reference no: EM13152171

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