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Eng Corporation, a private corporation reporting under ASPE, had the following transactions: Complete the below table for each of the following requirements. (Show amounts that
Eng Corporation, a private corporation reporting under ASPE, had the following transactions: Complete the below table for each of the following requirements. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. Enter Ofor amounts.) (a) Classify each transaction as an operating activity, investing activity, financing activity, or noncash transaction. Specify whether the transaction represents a cash inflow, cash outflow, or has no effect on cash, and in what amount. If (b) there is no effect on cash, put 0 under the (b) column. (a) (b) Transaction Classification Cash Inflow or Outflow 1. Sold inventory for $1.000 cash. Operating $1,000 2. (1) Purchased a machine for $30,000. Made a $5,000 down payment.
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