Chapter 6 Matching a. Operating activity b. Investing activity c. Financing acti

Question

Chapter 6 Matching a. Operating activity b. Investing activity c. Financing activity d. Fixed assets e. Long-term investment f. Common stock g. Dividends h. Long-term debt i. Bank deposit j. Journal entry Long-term tangible property that a firm owns Distribution of earnings to shareholders A stockholders' equity account Used to record purchase of a fixed asset for a note A 5-year note payable -Sales receipt A financial instrument that matures in more than 1 year Used to record amounts received from a note payable Sale of common stock Purchase of common stock

Explanation / Answer

a.Operating Activity - Sales Receipt

b.Investing Activity - Purchase of Common Stock

c.Financing Activity - Sales of Common stock

d.Fixed Assets - Long term tangible property that a firm owns

e.Long Term Investment - A financial instrument that matures in more than 1 year

f.Common Stock - A stockholders equity account

g.Dividends - Distribution of earnings to shareholders

h.Long Term Debt - A 5 year Note Payable

i.Bank deposit - Used to record amounts received from a note payable

j.Journal Entry - Used to record purchase of a fixed asset for a note

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