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The following two responses are required for each item

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Reference no: EM131007621

Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2011 and 2010, and the increases or decreases in each account from 2010 to 2011. Also presented is selected income statement information for the year ended December 31, 2011, and additional information.

Additional information:

a. Accounts receivable relate to sales of merchandise.
b. During 2011, equipment costing $40,000 was sold for cash.
c. During 2011, $20,000 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.

Required:

Items 1 through 5 represent activities that will be reported in Del Conte's statement of cash flows for the year ended December 31, 2011. The following two responses are required for each item:

  • Determine the amount that should be reported in Del Conte's 2011 statement of cash flows.
  • Using the list below, determine the category in which the amount should be reported in the statement of cash flows.

O. Operating activity
I. Investing activity
F. Financing activity

 

Reference no: EM131007621

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