Solved

Indicate on the Blanks Below the Letter of the Type

Question 176

Matching

Indicate on the blanks below the letter of the type of activity (O = operating activity, F = financing activity, I = investing activity, N = noncash transaction) each of the following transactions 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:
operating activity
financing activity
investing activity
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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