Additional Exercise 162 elected t orka onsactions o, Alto Company are listed bel

Question

Additional Exercise 162 elected t orka onsactions o, Alto Company are listed below Classry each transaction na either an eperanny sctivity, an ctvitya aning activity osh inesting and finaning activy Common stock is sold for cash above par value bonds payable are issued for cash at a discount Interest recelvable on a short-term note receivable is collected Land is sold for cash at book value Accounts payable are paid in cash Equipment is purchased by signing a 3-year, 10% note payable Cash dividends on common stock are declared and paid 100 shares of XVZ common stock are purchased for cash Merchandise is sold to customers for cash londs payable are converted into common stock onal Exercise 172 sections of Donny Inc.'s balance sheets at December 31, 2016 and 2017, are presented here ncome for 2017 was $203,000. Depreciation expense was $25,000. 2017 2016 115,000 $99,000 105,00089,000 154,000 172,000 celvable nse

Explanation / Answer

Answer:

No.

Transaction

Classification

1

Common Stock is sold for cash above par value

Financing Activity

2

Bonds payable are issued for cash at a Discount

Financing Activity

3

Interest Receivable on a Short-term note receivable is collected

Operating Activity

4

Land is sold for cash at Book Value

Investing Activity

5

Accounts Payable are paid in Cash

Operating Activity

6

Equipment is purchased by signing a 3-year, 10% Note Payable

Non-Cash Investing and Financing Activity

7

Cash Dividend on Common Stock are declared and paid

Financing Activity

8

100 shares of XYZ Common Stock are purchased for cash

Investing Activity

9

Merchandise is sold to Customer for cash

Operating Activity

10

Bonds Payable are converted into Common Stock

Non- Cash Financing Activity

No.

Transaction

Classification

1

Common Stock is sold for cash above par value

Financing Activity

2

Bonds payable are issued for cash at a Discount

Financing Activity

3

Interest Receivable on a Short-term note receivable is collected

Operating Activity

4

Land is sold for cash at Book Value

Investing Activity

5

Accounts Payable are paid in Cash

Operating Activity

6

Equipment is purchased by signing a 3-year, 10% Note Payable

Non-Cash Investing and Financing Activity

7

Cash Dividend on Common Stock are declared and paid

Financing Activity

8

100 shares of XYZ Common Stock are purchased for cash

Investing Activity

9

Merchandise is sold to Customer for cash

Operating Activity

10

Bonds Payable are converted into Common Stock

Non- Cash Financing Activity

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