Question

Motif Furniture is an Austin-based furniture company. For each of the following first-quarter transactions, indicate whether operating (O), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-), or (NE) if the transaction has no effect on cash.
_______1. Bought used equipment for cash.
_______2. Paid cash to purchase new equipment.
_______3. Declared and paid cash dividends to stockholders.
_______4. Collected payments on account from customers.
_______5. Recorded an adjusting entry to record accrued salaries expense.
_______6. Recorded and paid interest on debt to creditors.
_______7. Repaid principal on loan from bank.
_______8. Prepaid rent for the following period.
_______9. Made payment to suppliers on account.



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  • CreatedFebruary 27, 2015
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