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For Each of the Following Items, Indicate Whether It Would

Question 185

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

Premises:
Paid wages to employees.
Received interest from investments in trading securities.
Purchases of land for cash.
Issued bonds payable for cash.
Paid cash dividends.
Sold equipment for cash.
Collected accounts receivable from customers.
Issued stock for cash.
Purchased land in exchange for a note payable.
Received cash dividends from investments in trading securities.
Responses:
financial activity, or a significant
noncash financing and investing activity
investing activity
operating activity

Correct Answer:

Paid wages to employees.
Received interest from investments in trading securities.
Purchases of land for cash.
Issued bonds payable for cash.
Paid cash dividends.
Sold equipment for cash.
Collected accounts receivable from customers.
Issued stock for cash.
Purchased land in exchange for a note payable.
Received cash dividends from investments in trading securities.
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