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For Each of the Following Items, Indicate Whether It Would

Question 186

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For each of the following items, indicate whether it would be classified as either an operating activity, an investing activity, a financial activity, or a significant noncash financing and investing activity.

Premises:
Signed a note payable in exchange for cash.
Paid interest on a note payable.
Reissued treasury stock.
Cash sales of merchandise.
Paid cash to settle an account payable.
Purchased supplies for cash.
Purchased equipment in exchange for a 6-month note payable.
Purchased equipment for cash.
Purchased a warehouse in exchange for shares of its stock.
Sale of land for cash.
Responses:
operating activity
investing activity
noncash financing and investing activity
financial activity, or a significant

Correct Answer:

Signed a note payable in exchange for cash.
Paid interest on a note payable.
Reissued treasury stock.
Cash sales of merchandise.
Paid cash to settle an account payable.
Purchased supplies for cash.
Purchased equipment in exchange for a 6-month note payable.
Purchased equipment for cash.
Purchased a warehouse in exchange for shares of its stock.
Sale of land for cash.
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