Anit Corporation engaged in the transactions listed below. Identify each transaction as (a) An operating activity, (b)

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Anit Corporation engaged in the transactions listed below. Identify each transaction as

(a) An operating activity,

(b) An investing activity,

(c) A financing activity,

(d) A noncash transaction,

(e) Not on the statement of cash flows. (Assume the indirect method is used.)

1. Declared and paid a cash dividend.

2. Purchased a long-term investment.

3. Increased interest payable.

4. Paid interest.

5. Sold equipment at a loss.

6. Issued long-term bonds for plant assets.     

7. Increased dividends receivable.

8. Issued common stock.

9. Declared and issued a stock dividend.

10. Repaid notes payable.

11. Decreased wages payable.

12. Purchased a 60-day Treasury bill.

13. Purchased land.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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