Selected transactions of Duffy Inc. are listed below. 1. Common shares are sold for cash. 2....

 

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Selected transactions of Duffy Inc. are listed below. 1. Common shares are sold for cash. 2. Bonds payable are issucd for cash at a discount. 3. Interest on a short-term note receivable is collected. 4. Merchandise is sold to customers for cash. 5. Cash is paid to purchase inventory. 6. Equipment is purchased by signing a 3-year, 5% note payable. 7. Cash dividends on common shares are declared and paid. 8. One hundred common shares of Strategic Allance Co. are purchased for cash. 9. Land is sold for cash at book value. 10. Recorded an increase in the market value of available-for-sale securities. 11. Bonds payable are issued for cash at par value Required: Classify cach transaction as either A - an operating activity, B- an investing activity, C-a financing activity, or D-a non cash investing and financing activity. Selected transactions of Duffy Inc. are listed below. 1. Common shares are sold for cash. 2. Bonds payable are issucd for cash at a discount. 3. Interest on a short-term note receivable is collected. 4. Merchandise is sold to customers for cash. 5. Cash is paid to purchase inventory. 6. Equipment is purchased by signing a 3-year, 5% note payable. 7. Cash dividends on common shares are declared and paid. 8. One hundred common shares of Strategic Allance Co. are purchased for cash. 9. Land is sold for cash at book value. 10. Recorded an increase in the market value of available-for-sale securities. 11. Bonds payable are issued for cash at par value Required: Classify cach transaction as either A - an operating activity, B- an investing activity, C-a financing activity, or D-a non cash investing and financing activity.

Answer rating: 100% (QA)

Solution Transaction Type of activity Common share sold for cash Financing activity Bonds pa... View the full answer