Question

C. Gharpurey, Inc., had the following transactions during the year. Classify each transaction as (O) an operating activity, (I) an investing activity, (F) a financing activity, or (X) a noncash transaction. Also note each transaction as a plus (+) for an inflow of cash, a minus (–) for an outflow of cash or zero (0) for neither an inflow nor outflow of cash.
1. Paid $ 4,500 interest.
2. Repaid the principal of a mortgage of $ 42,000.
3. Paid $ 5,000 for rent.
4. Paid $ 6,800 for computer equipment.
5. Sold equipment for $ 7,000.
6. Extended a customer’s note of $ 1,600.
7. Purchased a bond for $ 10,000.
8. Paid $ 4,000 of federal income taxes.
9. Received cash from customers of $ 73,000.



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  • CreatedOctober 21, 2014
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