can anyone help me out with this? I need these answers by 10pm-1030 ET 11/30/2015 ATTACHMENT PREVIEW Download attachment accounting test.docx Assuming a statement of cash flows is prepared using the indirect method, indicate the reporting of the transactions and events listed below by major categories on the statement. Use the following code letters to indicate the appropriate category under which the item would appear on the statement of cash flows. Code: A – Add to Net Income B – Deduct from Net Income C – Cash Inflow from Investing Activities D – Cash Outflow from Investing Activities E – Cash Inflow from Financing Activities F – Cash Outflow from Financing Activities The drop down menu includes letters up to L which I could not remove. Your answers should be only A through F. Sorry for the confusion. Common stock is issued for cash at an amount above par value ______ Merchandise inventory increased during the period ______ Depreciation expense recorded for the period ______ Building was purchased for cash ______ Bonds payable were retired at their carrying value ______ Accounts payable decreased during the period ______ Prepaid expenses decreased during the period ______ Treasury stock was acquired for cash ______ Land is sold for cash at an amount equal to book value ______ Patent amortization expense recorded for a period ______ Dividends paid to shareholders ______ Available-for-sale securities purchased for cash ______ QUESTION 66 1. (8 points) Warsaw Corporation Warsaw Corporation Statement of Cash Flows For the Year Ended December 31, 2014 Cash Flows from Operating Activities Net Income $111,000 Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities Depreciation Expense $ 55,800 Gain on Sale of Furniture (7,000) and Fixtures Changes in Current Assets and Current Liabilities Decrease in Accounts Receivable 24,800 Decrease in Merchandise Inventory 103,000 Decrease in Prepaid Rent 1,000 Decrease in Accounts Payable(57,000) Decrease in Income Taxes Payable (5,000) Net Cash Flows from Operating Activities 115,600 $226,600 Cash Flows from Investing Activities Sale of Furniture and Fixtures $ 23,800 Purchase of Furniture and Fixtures Net Cash Flows from (39,600) (15,800) Investing Activities Cash Flows from Financing Activities Repayment of Notes Payable ($ 30,000) Issue of Notes Payable Dividends Paid Net Cash Flows from Financing Activities 54,000 (6,000) 18,000 Net Increase (Decrease) in Cash $228,800 Cash at Beginning of Year 50,000 Cash at End of Year $278,800 Schedule of Non-cash Investing and Financing Transactions: Conversion of Bonds Payable into Common Stock $200,000 3. Refer to Warsaw Corporation Statement of Cash Flows, answer the following questions: (a) What is the total amount of cash flows from debt and stockholder equity transactions? (b) What is the total amount of cash flows from long-term asset transactions? (c) What is the total amount of cash flows from day to day activities from running the business? (d) Which of the three sections of the statement of cash flows provides the most important information about Cash Flow? Why? QUESTION 65 1. (16 points) From the following information, prepare the cash flows from operating activities section for Bombay Corporation for 2014. Net income/(loss) = $(78,000) Depreciation expense = 65,000 Equipment with a cost of $100,000 and accumulated depreciation of $40,000 was sold for $75,000 Decrease in Accounts Receivable = $180,000 Decrease in merchandise inventory = $150,000 Increase in Prepaid insurance =$10,000 Decrease in Accounts Payable = $90,000 Decrease in Income Taxes Payable = $15,000 Increase in Wages Payable = $20,000