hdicate wilat type of aCLivIty the trarisaction represets O Operating F = Financ
ID: 2598831 • Letter: H
Question
hdicate wilat type of aCLivIty the trarisaction represets O Operating F = Financing I - Investing N Noncash transaction Sold Building for cash at cost [Choose ] Borrowed $10,000 from the bank IChoose l Purchase Equipment for cash IChoose l Received dividend income IChoose l Sold $200,000 worth of products for cash [Choose] Paid $500 for supplies IChoose l Sold Common Stock to stockholders IChoose l Purchased a Building by signing a 30 year[I Choosc mortgage Paid off long-term debt with cash [Choose ] Paid the monthly telephone bill IChoose l Paid cash dividends to stockholders IChoose l Issed $50,000 of Common Stock in exchange for land [Choose ]Explanation / Answer
Operating activities - Cash flows related to the Income Statement items, Current assets and Current liabilities excluding Notes payable and short term debt.
Investing activities - Cash flows related to non current assets.
Financing activities - Cash flows related to Debt(current debt and non current debt), equity.
Non cash transaction - Involvs no cash.
Sold Building for cash at cost - Investing
Borrowed $10,000 from the bank - Financing
Purchase Equipment for cash - Investing
Received dividend income - Operating
Sold $200,000 worth of products for cash - Operating
Paid $500 for supplies - Operating
Sold Common Stock to Stockholders - Financing
Purchased a Building by signing a 30 year mortgage - Non cash transaction
Paid off long term debt with cash - Financing
Paid the monthly telephone bill - Operating
Paid cash dividends to stockholders - Financing
Issued $50,000 of Common stock in excahnge for land - Non cash transaction.
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