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Match Each Transaction to the Type of Acivity It Represents

Question 176

Matching

Match each transaction to the type of acivity it represents.

Premises:
Company sold shares of its own stock for cash.
Acquired land and buildings by issuance of long-term mortgage payable.
Declared and paid cash dividends.
Received interest income.
Exchanged shares of stock for 15-year bonds.
Paid the U.S. Treasury for income taxes.
Collected proceeds from the sale of a long-term investment at cost.
Declared stock dividends.
Paid off long-term debt with cash.
Purchased equipment with cash.
Responses:
O = operating activity,
F = financing activity
I = investing activity
N = noncash transaction

Correct Answer:

Company sold shares of its own stock for cash.
Acquired land and buildings by issuance of long-term mortgage payable.
Declared and paid cash dividends.
Received interest income.
Exchanged shares of stock for 15-year bonds.
Paid the U.S. Treasury for income taxes.
Collected proceeds from the sale of a long-term investment at cost.
Declared stock dividends.
Paid off long-term debt with cash.
Purchased equipment with cash.
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