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Please help classify these transaction and INDICATE its effect on the income statement. Classify each of the following transactions as an operating activity, an investing
Please help classify these transaction and INDICATE its effect on the income statement.
Classify each of the following transactions as an operating activity, an investing activity or a financing activity cash flow, or a non cash transaction - Indicate also its effect on the Income statement (increase or decrease the profit) Provide services for cash Purchase marketable securities for cash Paid cash for rent Received interest on note receivable Paid cash for salaries Received advance payment for services Paid a cash dividend Provide services on account Bought land with cash Collected cash from receivables Issued common stock for cash Repaid principal and interest on a note payable Declared a stock split Purchased inventory with cash Recorded depreciation of fixed asset Paid insurance with cash Issued a note payable in exchange for equipmentStep by Step Solution
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