Exercises

Classify transactions by type of activity.

E$17\mathrm{.}1($LO $1),$ C Kiley Corporation had these transactions during $2022.$

a$.$ Purchased a machine for $$30,000,$ giving a long$-$term note in exchange.

b$.$ Issued $$50,000$ par value common stock for cash.

c$.$ Issued $$200,000$ par value common stock upon conversion of bonds having a face value of $$200,000.$

d$.$ Declared and paid a cash dividend of $$13,000.$

e$.$ Sold a long$-$term investment with a cost of $$15,000$ for $$15,000$ cash.

f$.$ Collected $$16,000$ from sale of goods.

g$.$ Paid $$18,000$ to suppliers.