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ness activities. SERIES A EXERCISE financing activity. CLASSIFYING BUSINESS TRANSACTIONS Dolores Lopez opened a new consul ing business. The following transactions occurred during January of
ness activities. SERIES A EXERCISE financing activity. CLASSIFYING BUSINESS TRANSACTIONS Dolores Lopez opened a new consul ing business. The following transactions occurred during January of the current yea Classify each transaction as an operating, an investing, or a (a) Invested cash in the business, $10,000. (b) Paid office rent, $500. (c) Purchased office equipment. Paid $1,500 cash and agreed to pay the balance a $2,000 in four monthly installments. (d) Received cash for services rendered, $900. (e) Paid phone bill, $65. (f) Made payment on loan in transaction (c), $500. (g) Paid wages to part-time employee, $500. (h) Received cash for services rendered, $800. (i) Paid electricity bill, $85. 6) Withdrew cash for personal use, $100. move 500
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