Question

VIP Corporation engaged in the transactions that follow. Identify each transaction as
(a) An operating activity,
(b) An investing activity,
(c) A financing activity,
(d) A noncash transaction,
(e) Not on the statement of cash flows.
Assume the indirect method is used.
1. Paid interest.
2. Increased dividends receivable.
3. Declared and paid a cash dividend.
4. Purchased a long-term investment.
5. Increased accounts receivable.
6. Sold equipment at a loss.
7. Issued long-term bonds for plant assets.
8. Issued common stock.
9. Declared and issued a stock dividend.
10. Decreased wages payable.
11. Purchased a 60-day Treasury bill.
12. Repaid notes payable.
13. Purchased land.



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  • CreatedMarch 26, 2014
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