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E23-1 (Classification of Transactions) Springsteen Co. had the following activity in its most recent year of operations. (a) Pension expense exceeds amount funded. (e) Exchange
E23-1 (Classification of Transactions) Springsteen Co. had the following activity in its most recent year of operations. (a) Pension expense exceeds amount funded. (e) Exchange of equipment for furniture. (b) Redemption of bonds payable. (f) Issuance of capital stock. (c) Sale of building at book value. (g) Amortization of intangible assets. (d) Depreciation. (h) Purchase of treasury stock. (i) Issuance of bonds for land. (k) Increase in interest receivable on notes receivable. (j) Payment of dividends. (l) Purchase of equipment. Instructions Classify the items as (1) operatingadd to net income; (2) operatingdeduct from net income; (3) investing; (4) financing; or (5) significant noncash investing and financing activities. Use the indirect method
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