Brief Exercise 12-3 Three Types of Activities

LO3 Brief Exercise 12-3 Three Types of Activities EXAMPLE 12-1For each of the following transactions on the statement cash follows, indicate whether it would appear in the Operating Activities section (O), in the Investing Activities section (I), or in the Financing Activities section (F). Assume the use of the direct method in the Operating Activities section.1. Repayment of long-term debt2. Purchase of equipment 3. Collection of customer's account 4. Issuance of common stock 5. Purchase of another company6. Payment of dividends7. Payment of income taxes8. Sale of equipment