Allegany Company produces clothing. During 2011, the company reported the following items that affected cash. Indicate whether
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Allegany Company produces clothing. During 2011, the company reported the following items that affected cash. Indicate whether each of these items is a cash flow from operating activities (O), investing activities (I), or financing activities (F).
1. Sold shares of stock to new stockholders
2. Sold equipment by receiving cash
3. Paid wages to employees
4. Borrowed money from bank on a long-term note
5. Collected cash on account from customers
6. Paid cash for supplies
7. Paid dividends to stockholders
8. Lent cash to XYZ Company
9. Paid interest to bank on the note
10. Purchased Office building
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Related Book For
Financial Accounting
ISBN: 978-1259222139
9th edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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