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Classify the Following Activities According to the Appropriate Section of the Statement

Question 227

Short Answer

Classify the following activities according to the appropriate section of the statement of cash flows.
a. Operating activity
b. Investing activity
c. Financing activity
1. Cash received from a one-time sale of used office equipment.
____ 2. Cash paid for withdrawals by owners.
____ 3. Cash received from customers.
____ 4. Cash received from owner contributions.
____ 5. Cash paid for utilities.
____ 6. Cash paid for a delivery van to be used in the business.

Correct Answer:

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1. B; 2. C...

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