aranan Get Homework Hel.. Spinbot.com Artic. Minbox.kaushaidh... Course Home Chapter 13 Question 2 of 7 - / 10 Blossom Corporation had the following transactions: (If the transaction has no effect on cash, leave the Cash Effect and Classification fields blank.) In the below table, indicate by how much each transaction increases or decreases cash. If the transaction has no effect (a) on cash, say so. Identify whether the transaction should be classified as an operating activity, investing activity, financing activity, (b) noncash investing and financing activity, or leave blank. 1 Issued common shares for $50,000, 2 Purchased a machine for $30,000. Made a $5,000 down payment and issued a long-term note payable for the remainder 3. Collected $12,000 of accounts receivable. Dit Conneschimband O + arch Question 2 of 7 - / 10 4. Paid a $20,000 cash dividend. 5. Sold a long-term investment with a carrying amount of $15,000 for $18,000. 6. Sold inventory for $1,000. 7. Paid $15,000 on accounts payable. 8 Purchased a trading investment (equity securities) for $100,000. 9 Purchased inventory for $25,000 on account. 10. Collected $1,000 in advance from customers. 11. Paid $25,000 to repurchase and retire common shares. e Textbook and Media O 5 3 arch Chapter 13 Question 2 of 7 -/10 (a) (b) Cash Effect Classification $ ote payable for the remainder. 23 A