Rapture Corporation had the following transactions. 1. Issued $200,000 of bonds payable. 2. Paid utilities expense. 3.

Question:

Rapture had the following transactions.
1. Issued $200,000 of bonds payable.
2. Paid utilities expense.
3. Issued 500 shares of preferred stock for $45,000.
4. Sold land and a building for $250,000.
5. Lent $30,000 to Dead End receiving Dead End’s 1-year, 12% note.
Classify each of these transactions by type of cash flow activity (operating, investing, or financing).

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...