Types of Business Activities Braxton Corp. was organized on January 1, 2010, to operate a limousines service to and from the airport. For each of the following business activities, indicate whether it is a fi nancing (F), investing (I), or operating (O) activity.

________ 1. Issued shares of stock to each of the four owners.

________ 2. Purchased two limousines.

________ 3. Paid fi rst month’s rent for use of garage.

________ 4. Obtained loan from local bank.

________ 5. Received cash from customer for trip to the airport.

________ 6. Paid driver fi rst week’s wages.

________ 7. Purchased 500-gallon fuel tank.

AppendixLO1