Below are several transactions that took place in Seneca Company last year: a. Paid suppliers for inventory

Question:

Below are several transactions that took place in Seneca Company last year:
a. Paid suppliers for inventory purchases.
b. Bought equipment for cash.
c. Paid cash to repurchase its own stock.
d. Collected cash from customers.
e. Paid wages to employees.
f. Equipment was sold for cash.
g. was sold for cash to investors.
h. Cash dividends were declared and paid.
i. A long-term loan was made to a supplier.
j. Income taxes were paid to the government.
k. Interest was paid to a lender.
l. Bonds were retired by paying the principal amount due.

Required:
Prepare an answer sheet with the following headings:

Enter the transactions above on your answer sheet and indicate how each of them would be classified on a statement of cash flows. As appropriate, place an X in the Operating, Investing, or Financing column. Also, place on X in the Cash Inflow or Cash Outflowcolumn.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...