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please choose the right answer and explain why Harry Corporation had the following transactions during 2017. The company follows ASPE. For each transaction, identify whether
please choose the right answer and explain why
Harry Corporation had the following transactions during 2017. The company follows ASPE. For each transaction, identify whether the transaction should be considered a cash flow from operating, investing, or financing activities, or whether the transaction is not a cash activity. (a) Issued common shares for $100,000 cash (b) Issued $22,000 worth of common shares in exchange for equipment (c) Collected $52,000 cash for services rendered (d) Purchased shares in another company as a long-term investment for $18,000 cash. (e) Collected $9,000 of accounts receivable () Paid $14,000 of accounts payable. (9) Declared and paid a cash dividend of $12,000. (h) Sold a long-term investment with a cost of $18,000 for $18,000 cash. (i) Purchased a machine for $35,000 by giving a long-term note in exchange. (i) Exchanged land with a fair value of $20,000 for equipment with a fair value of $20,000Not a cash transaction Financing activity Not a cash transaction Operating activity Financing activity Operating activity Operating activity Financing activity Investing activity Not a cash transactionStep by Step Solution
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