Burke-Cassidy Investments specializes in low-risk government bonds. Identify each of Burke-Cassidys transactions as operating (O), investing (I),
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a. Acquisition of building by cash payment b. Decrease in merchandise inventory c Depreciation of equipment d. Decrease in accrued liabilities c. Payment of cash dividend f. Purchase of long-term investment g. Issuance of long-term note payable to borrow cash h. Increase in prepaid expenses i. Accrual of salary expense Acquisition of equipment by issuance of note payable k. Sale of long-term investment L Issuance of common stock for cash m. Increase in accounts payable n. Amortization of intangible assets o. Loss of sale of equipment p. Payment of long-term debt Cash sale of land . Purchase of treasury stock s. Net income
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I a Acquisition of building by I k Sale of longterm cash payment investment O b D...View the full answer
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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