Question: Item 1: Classify each transaction as either an operating activity OA, an investing activity IA, or a financing activity FA, or a noncash investing and

Item 1: Classify each transaction as either an operating activity "OA", an investing activity "IA," or a financing activity "FA," or a noncash investing and financing activity "NC." Selected transactions for the Entity A are listed below. 1. Sold stock investment (Amazon) for cash. 2. Paid cash interest on a note payable. 3. Land is purchased by signing a 3-year, 15% note payable. 4. Cash dividends paid. 5. Paid cash for salaries and wages. 6. Pay off a long-term bank loan. 7. Common stock is exchanged for equipment. 8. Land was sold for its book value. 9. Paid cash for property taxes on building. 10. Purchased a new warehouse for the land (see 3 above)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
