Question
Item 1: Classify each transaction as either an operating activity OA, an investing activity IA, or a financing activity FA, or a noncash investing and
Item 1: Classify each transaction as either an operating activity OA, an investing activity IA, or a financing activity FA, or a noncash investing and financing activity NC.
Selected transactions for the Entity A are listed below.
FA_____1. Common stock is sold for cash.
IA_____2. Interest on a short-term note receivable is collected.
IA_____ 3. Equipment was purchased by signing a 3-year, 5% note payable.
FA_____ 4. Cash dividends paid.
OA_____5. Cash sale of merchandise.
__FA___6. Retire bonds payable.
NC_ 7. Exchange of land for a patent.
_NC 8. Land was sold for its book value.
_OA 9. Cash paid for inventory.
IA_____10. Office building w
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