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
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Related Book For
Understanding Financial Accounting
ISBN: 9781119715474
3rd Canadian Edition
Authors: Christopher D. Burnley
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