Solved

Match Each Transaction to the Type of Acivity It Represents

Question 178

Matching

Match each transaction to the type of acivity it represents.

Premises:

Responses:

Firm sold 8,000 shares of its own common stock for cash.

O = operating activity,

Sold $200,000 worth of products for cash.

F = financing activity

Paid $120,000 dividend.

I = investing activity

Received $1,500 in interest income.

N = noncash transaction

Exchanged 6,000 shares of stock for 15-year bonds.

Paid $121,000 to the U.S. Treasury for income taxes.

Premises:

Firm sold 8,000 shares of its own common stock for cash.

Sold $200,000 worth of products for cash.

Paid $120,000 dividend.

Received $1,500 in interest income.

Exchanged 6,000 shares of stock for 15-year bonds.

Paid $121,000 to the U.S. Treasury for income taxes.

Responses:

O = operating activity,

F = financing activity

I = investing activity

N = noncash transaction

Correct Answer:

Premises:

Responses:

Firm sold 8,000 shares of its own common stock for cash.

Sold $200,000 worth of products for cash.

Paid $120,000 dividend.

Received $1,500 in interest income.

Exchanged 6,000 shares of stock for 15-year bonds.

Paid $121,000 to the U.S. Treasury for income taxes.

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