Question

Classifying inflows and outflows of cash Classify each of the following items as an inflow () or an outflow (O) of cash, or neither (N) ltem Cash Balance Accounts payable Notes payable Long-term debt Inventory Fixed assets Change (S) +1,760 + 870 +1,120 + 890 770 +1,080 Change (S) Item - 330 - 1,230 +1,550 + 910 +180 +330 Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock

Answer 1

Item	Change	Classification
Cash balance	-330	I
Accounts payable	-1230	O
Notes payable	1550	I
Long term debt	910	I
Inventory	180	O
Fixed assets	330	O
Accounts receivable	1760	O
Net profits	870	I
Depreciation	1120	I
Repurchase of stock	890	I
Cash dividends	770	I
Sale of stock	1080	O