Question: Classify the below activities as operating, investing, or financing. Compute cash flows from investing or financing activities 1.) Sold land costing $40,000 for $43,000, generating
Classify the below activities as operating, investing, or financing. Compute cash flows from investing or financing activities
1.) Sold land costing $40,000 for $43,000, generating a gain of $3,000.
2.) Equipment costing $10,000 with accumulated depreciation of $7,000 was sold at a loss of $500.
3.) Purchased a delivery truck for $35,700 cash.
4.) Issued 400 common shares with $0.10 par value for $9 a share.
5.) Invested $6700 in Walmart bonds classified as AFS.
6.) Borrowed $124,000 from Commerce Bank by signing short-term notes payable.
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