Antoine Watteau Corporation had the following transactions during 2006. 1. Issued $50,000 par value common stock for
Question:
Antoine Watteau Corporation had the following transactions during 2006.
1. Issued $50,000 par value common stock for cash.
2. Collected $11,000 of accounts receivable.
3. Declared and paid a cash dividend of $25,000.
4. Sold a long-term investment with a cost of $15,000 for $15,000 cash.
5. Issued $200,000 par value common stock upon conversion of bonds having a face value of
$200,000.
6. Paid $14,000 on accounts payable.
7. Purchased a machine for $30,000, giving a long-term note in exchange.
Classify transactions by type of activity.
(SO 2)
Instructions Analyze the transactions above and indicate whether each transaction resulted in a cash flow from
(a) operating activities,
(b) investing activities,
(c) financing activities, or
(d) noncash investing and financing activities.
Step by Step Answer:
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel