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For Each of the Following Transactions, Indicate the Section in Which

Question 167

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For each of the following transactions, indicate the section in which it will be included. Use O for the operating section, I for the investing activities section, F for the financing section, S for a separate schedule of noncash investing and financing activities, and N for items not disclosed on the statement of cash flows.

Premises:
Received stock dividends
Acquired a patent by issuing common stock
Paid interest on a short-term note payable
Sold treasury stock for cash
Received cash dividends
Paid salaries
Paid cash dividends
Sold merchandise for cash
Converted debt to common stock
Purchase of land using preferred stock
Paid accounts payable
Responses:
N for items not disclosed on the statement of cash flows
F for the financing section
S for a separate schedule of noncash investing and financing activities
I for the investing activities section
O for the operating section

Correct Answer:

Received stock dividends
Acquired a patent by issuing common stock
Paid interest on a short-term note payable
Sold treasury stock for cash
Received cash dividends
Paid salaries
Paid cash dividends
Sold merchandise for cash
Converted debt to common stock
Purchase of land using preferred stock
Paid accounts payable
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