Question
Below are a number of transactions that took place in Willie Corporation during the past year:
Transaction Activity Cash Inflow / Outflow a. Common stock was sold for cash. (Click to select)OperatingNoneInvestingFinancing (Click to select)Cash outflowNoneCash inflow b. Equipment was sold for cash. (Click to select)NoneOperatingInvestingFinancing (Click to select)Cash outflowNoneCash inflow c. A long-term loan was made to a subsidiary. (Click to select)OperatingInvestingFinancingNone (Click to select)NoneCash outflowCash inflow d. Interest was received on loan to subsidiary. (Click to select)OperatingFinancingNoneInvesting (Click to select)NoneCash outflowCash inflow e. Interest Payable, a current liability, was reduced. (Click to select)NoneFinancingInvestingOperating (Click to select)NoneCash inflowCash outflow f. A stock dividend was declared and issued on common stock. (Click to select)OperatingInvestingFinancingNone (Click to select)Cash inflowCash outflowNone g. A building was acquired by issuing shares of common stock. (Click to select)InvestingFinancingNoneOperating (Click to select)NoneCash outflowCash inflow h. Accrued Income Taxes, a current liability account, was reduced. (Click to select)InvestingFinancingNoneOperating (Click to select)NoneCash inflowCash outflow i. Long-term investments were sold. (Click to select)OperatingInvestingFinancingNone (Click to select)Cash inflowCash outflowNone j. Cash dividends were declared and paid. (Click to select)NoneInvestingFinancingOperating (Click to select)Cash outflowCash inflowNone k. Preferred stock was sold for cash. (Click to select)OperatingNoneInvestingFinancing (Click to select)Cash inflowNoneCash outflow l. Bonds were retired. (Click to select)OperatingInvestingNoneFinancing (Click to select)Cash outflowNoneCash inflow m. Dividends were received on an investment. (Click to select)OperatingNoneInvestingFinancing (Click to select)Cash outflowCash inflowNone n. Equipment was purchased by giving a long-term note to the seller. (Click to select)OperatingInvestingFinancingNone (Click to select)Cash outflowNoneCash inflow
Explanation / Answer
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