Identifying activity categories of transactions—direct method
Consider the following transactions:
| a. Land | 17,000 | g. Salary expense | 5,200 | ||
| Cash | 17,000 | Cash | 5,200 | ||
| b. Cash | 9,800 | h. Cash | 92,000 | ||
| Equipment | 9,800 | Common stock | 92,000 | ||
| c. Bonds payable | 36,000 | i. Treasury stock | 16,300 | ||
| Cash | 36,000 | Cash | 16,300 | ||
| d. Building | 128,000 | j. Cash | 3,200 | ||
| Note payable | 128,000 | Interest revenue | 3,200 | ||
| e. Cash | 2,200 | k. Land | 64,000 | ||
| Accounts receivable | 2,200 | Cash | 64,000 | ||
| f. Dividends payable | 19,800 | l. Accounts payable | 10,200 | ||
| Cash | 19,800 | Cash | 10,200 |
Requirement
1. Indicate where, if at all, each of the transactions would be reported on a statement of cash flows prepared by the direct method and the accompanying schedule of noncash investing and financing activities.
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