Direction: Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019.Talent Fees receivables from clients500,000 Cash receipt from clients600,000.Depreciation expense40,000 Proceeds of Japan bank loan350,000 Cash purchase of building800,000 Provision for doubtful accounts28,000 Additional Investment of Lena900,000 Dividends income received23,000 Rent Income received32,000 Payment of operating expenses975,000 Principal long-term loan paid600,000 Asset withdrawal of owner125,000 Proceeds from sale of land950,000

There are three components to a cash flow statement, they are Cash flow from Operating Activities…

Answered: Classify each cash flow activity…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 3AP

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Direction: Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019.

Talent Fees receivables from clients	500,000
Cash receipt from clients	600,000	.
Depreciation expense	40,000
Proceeds of Japan bank loan	350,000
Cash purchase of building	800,000
Provision for doubtful accounts	28,000
Additional Investment of Lena	900,000
Dividends income received	23,000
Rent Income received	32,000
Payment of operating expenses	975,000
Principal long-term loan paid	600,000
Asset withdrawal of owner	125,000
Proceeds from sale of land	950,000

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