Title: ACC 300 Week 4 Problem Set 2 Sample content: Problem Set 2: Week Four ACC/300 P121A You are given the following transactions that occurred in the latest fiscal year. Distinguish among operating, investing, and financing activities. 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. Transaction Where Reported Cash Inflow, Outflow, or No Effect? Depreciation expense on the plant assets Noncash (NC) Inflow Paid interest expense. Investing (I) Outflow Cash from a sale of plant assets. Investing (I) Inflow Acquired land by issuing common stock. Noncash (NC) No Effect Paid a cash dividend Financing (F) Inflow Distributed a stock dividend Noncash (NC) No Effect Recorded c

1. ACC 300 Week 4 Problem Set 2
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2. ACC 300 Week 4 Problem Set 2
Sample content:
Problem Set 2: Week Four ACC/300 P12-1A You are given the following
transactions that occurred in the latest fiscal year. Distinguish among operating,
investing, and financing activities. 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. Transaction Where Reported Cash
Inflow, Outflow, or No Effect? Depreciation expense on the plant assets
Noncash (NC) Inflow Paid interest expense.
Investing (I) Outflow Cash from a
sale of plant assets. Investing (I) Inflow Acquired land by
issuing common stock. Noncash (NC) No Effect Paid a cash
dividend Financing (F) Inflow Distributed a
stock dividend Noncash (NC) No Effect
Recorded cash sales. Operating (O)
Inflow Recorded sales on account. Operating (O)
Outflow Purchased inventory for cash. Operating (O)
Outflow Purchased inventory on account Noncash (NC)
No Effect P12-2A The aforementioned account balances relate
to the stockholders equity accounts of Patil Corporation at the end of the year.
2012 2011 Common stock, 10,500 and 10,000 shares, respectively, for 2012 and
2011 $160,800 $140,000 Preferred stock, 5,000 shares 125,000 125,000
Retained earnings 300,000 270,000 A minimal stock dividend was
announced and assigned in 2012. The market value of the shares is $8,800. In
2011 and 2012, the cash dividends were $20,000. The common stock has no
declared value. Determine cash flow effects of changes in equity accounts. (SO 4),
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