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7) Classify each of the following transactions as either an operating activity (O), an investing activity (1), a financing activity (F), or a non-cash activity
7) Classify each of the following transactions as either an operating activity (O), an investing activity (1), a financing activity (F), or a non-cash activity (N). (10 marks) a) Camping goods are sold by Canadian Tire to customers for cash. b) Common shares are sold for cash. c) Furniture and fixtures are purchased by signing a 2-year, % note payable. d) Paid $100,000 on long-term debt to Bank of Montreal. e) Collected on a trade receivable. f) Paid employees' wages for the last two-week period. g) Sold building for $875,000. h) Paid dividend on common shares. i) Converted bonds payable to common shares. j) Purchased inventory in the amount of $50,000
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