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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 - signe.g.-15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. Enter for amounts.) (a) Classify each transaction as an operating activity, investing activity, financing activity, or noncash transaction. (b) Specify whether the transaction represents a cash inflow, cash outflow, or has no effect on cash, and in what amount. If there is no effect on cash, put 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. $ 2. (ii) Issued a long-term note for the remainder. $ 3. Issued common shares for $50,000. $ 4. Collected $16,000 of accounts receivable. DENG S23 PM 5. Paid a $25,000 cash dividend. $ 6. Sold a long-term equity investment with a carrying value of $15,000 for $10,000 $ 10. Purchased a long-term investment in bonds for $100,000. $ 11. Sold equipment with a carrying amount of $16,000 for $13,000. $ 12. Paid $12,000 interest expense on long-term notes payable. $
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