Question: Listed below are several transactions. For each transaction, indicate by letter whether the cash effect of each transaction is reported in a statement of cash

Listed below are several transactions. For each transaction, indicate by letter whether the cash effect of each transaction is reported in a statement of cash flows as an operating (O), investing (I), financing (F), or noncash (NC) activity. Also, indicate whether the transaction is a cash inflow (CI) or cash outflow (CO), or has no effect on cash (NE). The first answer is provided as an example.

Cash Inflow or Outflow CO Transaction Type of Activity 1. Payment of employee salaries 2. Sale of land for cash. 3. Purchase of rent in advance. Collection of an account receivable. 5. Issuance of common stock 6. Purchase of inventory. 7. Collection of notes receivable. 8. Payment of income taxes. 9. Sale of equipment for a note recelvable. 10. Issuance of bonds. 11. Loan to another firm. 12. Payment of a long-term note payable 13. Purchase of treasury stock 14. Payment of an account payable. 15. Sale of equipment for cash.

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