Classifying items on statement of cash flows) Use the following abbreviations to answer this question: O Operating

Question:

Classifying items on statement of cash flows) Use the following abbreviations to answer this question:

O Operating activities item
I Investing activities item
F Financing activities item


Required
Classify each of the following transactions according to whether they are operating, financing, or investing activities:
a. Purchase of manufacturing equipment 

b. Issuance of long-term debt 

c. Payment of property tax for office building 

d. Sale of goods sold for cash 

e. Interest paid on long-term debt 

f. Proceeds from the sale of land 

g. Payment of insurance premium 

h. Purchase of shares of another company

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Understanding Financial Accounting

ISBN: 9781119715474

3rd Canadian Edition

Authors: Christopher D. Burnley

Question Posted: