Minnow Corporation engaged in the transactions listed below. Identify each transaction as (a) an operating activity, (b)
Question:
Minnow Corporation engaged in the transactions listed below. Identify each transaction as
(a) an operating activity,
(b) an investing activity,
(c) a financing activity,
(d) a noncash transaction, or
(e) not on the statement of cash flows. (Assume the indirect method is used.)
1. Declared and paid a cash dividend.
2. Purchased a long-term investment.
3. Increased accounts receivable.
4. Paid interest.
5. Sold equipment at a loss.
6. Issued long-term bonds for plant assets.
7. Increased dividends receivable on securities held.
8. Issued common stock.
9. Declared and issued a stock dividend.
10. Repaid notes payable.
11. Decreased wages payable.
12. Purchased a 60-day Treasury bill.
13. Purchased land.
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