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Indicate on the Blanks Below the Letter of the Type

Question 144

Matching

Indicate on the blanks below the letter of the type of activity (operating activity,financing activity,investing activity,noncash transaction)each of the following transactions represents.

Premises:
Firm sold 8,000 shares of its own common stock for cash.
Paid $120,000 dividend.
Sold $200,000 worth of products for cash.
Exchanged 6,000 shares of stock for 15-year bonds.
Paid $121,000 to the U.S.Treasury for income taxes.
Received $1,500 in interest income.
Responses:
financing activity
investing activity
noncash transaction
operating activity

Correct Answer:

Firm sold 8,000 shares of its own common stock for cash.
Paid $120,000 dividend.
Sold $200,000 worth of products for cash.
Exchanged 6,000 shares of stock for 15-year bonds.
Paid $121,000 to the U.S.Treasury for income taxes.
Received $1,500 in interest income.
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