Exercise 14-25

Exercise 14-36

Exercise 14-37

BRIEF EXERCISES: SET B Brief Exercise 14-25 Activity Classification During the last 2 years ofoperations, Lelkes Company had the following transactions: a. Purchased land for $1,000,000. e. Issued common stock for $2,000,000. b. Issued bonds with a 5-year maturity date f ought a 30% interest in a company. for $3,000,000. g. Retired a long-term note payable. c. Reported a loss of $2,000,000 for the h. Reported a profit for the year ($500,000). most recent year. d. ought equipment for $500,000. i. Paid dividends of $1,000,000. Required: Classify each of these transactions as an operating activity, an investing activity, or a financing activity and indicate whether the activity is a source of cash or a use ofcash