Listed below are several transactions that typically produce either an increase or a decrease in cash. Indicate
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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.
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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. 11. Acquisition of bonds of another corporation. 12. Payment of semiannual interest on bonds payable. 13. Payment of a cash dividend. 14. Purchase of a building. 15. Collection of nontrade note receivable (principal amount). 16. Loan to another company. 17. Retirement of common stock. 18. Income taxes. 19. Issuance of a short-term note payable. 20. Sale of a copyright.
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F 1 Sale of Common Stock I 2 Sale of Land F 3 Purchase of Treas...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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