Minnow Corporation engaged in the transactions listed below. Identify each transaction as (a) an operating activity, (b)

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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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Financial Accounting

ISBN: 9780547070025

9th Edition

Authors: Jr. Belverd E. Needles, Marian Powers

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