Question: Both of problem 6 and 7. Thanks for your help! 6. For each of the indicate an operatinge following items, indicate whether it would be
6. For each of the indicate an operatinge following items, indicate whether it would be classified on the Statement of Cash Flows as Classification nancing or a noncash financing and investing activity.(5 points Description of Activity Sold equipment for cash. Received interest on investments Collected accounts receivable from customers. Purchased land using cash Purchased equipment using proceeds of a new bank note. Received cash from issuing company common stock. Paid wages to employees Paid cash dividends. Issued bonds payable for cash. Acquired building in exchange for issuing shares of its common stock. 7. Indicate what type of account each item is (ie. Asset, Liability, Equity, Revenue, Expense), and on which statement (Income Statement, Balance Sheet, Statement of Retained Earnings) you would find it. (8 points) Account Tvpe Statement Cash Common Stock Accounts Payable Salaries Expense Sales Revenue Accounts Receivable Retained Earnings Property, Plant and Equipment
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
