Classify each of the transactions listed in BE13-1 as an operating (O), investing (I), financing (F), or
Question:
In BE13-1
(a) ______ Repayment of mortgage payable
(b) ______ Payment of interest on mortgage
(c) ______ Purchase of land in exchange for common shares
(d) ______ Issue of preferred shares
(e) ______ Purchase of a trading investment that is not a cash equivalent
(f) ______ Collection of accounts receivable
(g) ______ Declaration of cash dividend
(h) ______ Payment of cash dividend (see item [g] above)
(i) ______ Purchase of merchandise inventory
(j) ______ Recording of depreciation expense?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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