CRP3 Q- Search in Document Home Insert Design Layout References Mailings Review

Question

CRP3 Q- Search in Document Home Insert Design Layout References Mailings Review View Share AaBbCcDdE AaBbCcDdE AaBbCcDd AaBbCcDdEe Paste NormalNo Spacing He ng 1Heading 2 SubtitleSubtle Emph. Problem 6: Label each transaction as cash flows from operating, investing, or financing activities using US GAAP. $480,000 340,000 1,500 Issuance of common stock Cash received from Customers Interest on note receivable Sale of equipment at book value Collection of long-term note receivable (the principal) 77,000 Issued a long-term note payable in exchange for a building with a fair value of $100,000 90,000 55,000 90,000 200,000 Cash Dividends paid Purchase of land Operating expenses Interest expense on bonds payable Retirement of bonds payable Purchase Merchandise Employee salaries 30,000 310,000 55,000 Page 6 of 11 1916 Words English (US) Focus 219%

Explanation / Answer

Transaction Activity Issuance of common stock Financing activities Cash Received from customers Operating activities Interest on note recievable Operating activities sale of equipment at book value Investing activities collection of long term note receivable (the prinicipal) Investing activities Issued a long term note payable in exchange for a building with a fair value of $100,000 Non-cash activity Cash dividends paid Financing activities purchase of land Investing activities operating expenses Operating activities interest expense on bond payable Financing activities retirement of bonds payable Financing activities purchase merchandise Operating activities Employee salaries Operating activities

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