ACT3392SpringTraditionalHWCh23&ARP

ACT3392SpringTraditionalHWCh23&ARP - HOMEWORK -...

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HOMEWORK - SPRING 2010 ALL homework assignments must be completed by using some type of computer software program, e.g., word, excel. YOU WILL NOT RECEIVE FULL CREDIT FOR THE HOMEWORK UNLESS IT IS COMPLETED BY USING A COMPUTER. NO CREDIT WILL BE GIVEN FOR LATE HOMEWORK. When completing your homework assignments DO NOT use any abbreviations, e.g., spell out Governmental Accounting Standards Board instead of simply writing GASB. As discussed during class, you can work on these homework assignments in groups or as an individual. 1. (7 points) Note that in the following statement of cash flows, X identifies a dollar amount and the letters (A) through (F) identify specific items that appear in the sections of the statement prepared using the indirect method. Statement of Cash Flows Cash flows from operating activities Net income X Adjustments to reconcile net income to net cash provided by operating activities: Add +X (A) Deduct –X (B) Net cash provided by operating activities X Cash flows from investing activities Inflows +X (C) Outflows –X (D) Net cash provided (used) by investing activities X Cash flows from financing activities Inflows +X (E) Outflows –X (F) Net cash provided (used) by financing activities X Net increase (decrease) in cash X For each of the following items, indicate by letter in the blank spaces below, the section or sections where the effect would be reported. Use the code (A through F) from above. If the item is not required to be reported on the statement of cash flows, write the word "none" in the blank. Assume that generally accepted accounting principles have been followed in determining net income and that there are no short- term securities which are considered cash equivalents. The first one is completed for you
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ACT3392SpringTraditionalHWCh23&ARP - HOMEWORK -...

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