For each of the following items, indicate whether it would be classified as an (

Question

For each of the following items, indicate whether it would be classified as an (O) operating activity, an (I) investing activity, a (F) financing activity or a significant, (N) noncash financing and investing activity.

Paid wages to employees

Purchases of land for cash

Received interest from investments in trading securities

Collected accounts receivable from customers

Issued stock for cash

Issued bonds payable for cash

Purchased land in exchange for a note payable

Paid cash dividends

Received cash dividends from investments in trading securities

Sold equipment for cash

Explanation / Answer

o----operating activities:

Cash paid for salaries and wages
Received cash dividends from investments in trading securities

Collected accounts receivable from customers

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investing activities:

the purchase and sale of long-term assets,

Sold equipment for cash

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(F) financing activity or a significant,

(N) noncash financing and investing activity.

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