Indicate how each item should be classified in the, Accounting Basics

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Indicate how each item should be classified in the

An analysis of comparative balance sheets, the currentyears income statement and the general ledger accounts of GaglianoCorp, Uncovered the following items. Assume all items involved cashunless there is information to the contrary.

(a) Payment of interest on notes payable

(b) Exchange of land for patent

(d) Payment of dividends

(e) Depreciation

(f) Receipt of dividends oninvestment in stock

(g) Receipt of interest on notesreceivable

(h) Issuance of capital stock

(i) Amortization of patent

(j) Issuance of bonds for land

(k) Purchase of land

(l) Conversion of bonds intocommon stock

(m) Loss on sale of land

(n) Retirement of bonds

Instructions:

indicate how each item should be classified in the statementof cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity,and significant noncash investing and financing activity.

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Accounting Basics: Indicate how each item should be classified in the

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Accounting Basics: Indicate how each item should be classified in the

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Accounting Basics: Indicate how each item should be classified in the

Reference No:- TGS0595828

Recent Questions Asked Accounting Basics

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