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In: Accounting

Listed below are several transactions that typically produce either an increase or a decrease in cash. Indicate

Listed below are several transactions that typically produce either an increase or a decrease in cash. Indicate by letter whether the cash effect of each transaction is reported on a statement of cash flows as an operating (O), investing (I), or financing (F) activity. 

Transactions F 1. Sale of common stock. 2. Sale of land. 3. Purchase of treasury stock. 4. Merchandise sales. 5. Issuance of a long-term note payable. 6. Purchase of merchandise. 7. Repayment of a note payable. 8. Employee salaries. 9. Sale of equipment at a gain. 10. Issuance of bonds.

Solutions

Expert Solution

F 1. Sale of Common Stock.
I 2. Sale of Land
F 3. Purchase of Treasury Stock
O 4. Merchandise Sales
F 5. Issuance of a long-term note payable
O 6. Purchase of merchandise
F 7. Repayment of note payable
O 8. Employee salaries
F 9. Sale of equipment at a gain.
F 10. Issuance of bonds
I 11. Acquisition of bonds of a another corporation
O 12. Payment of semiannual interest on bonds payable
F 13. Payment of a cash dividend
I 14. Purchase of a building
I 15. Collection of a nontrade note receivable (principal amount)
I 16. Loan to another firm.
F 17. Retirement of common stock.
O 18. Income taxes.
F 19. Issuance of short-term note payable
I 20. Sale of copyright

Junaid answered 2 years ago
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