Question
Tabares Corporation had these transactions during 2017. Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities,
Tabares Corporation had these transactions during 2017. Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a) | Issued $50,000 par value common stock for cash. | Financing ActivitiesInvesting ActivitiesNoncash Investing and Financing ActivitiesOperating Activities | ||
(b) | Purchased a machine for $30,000, giving a long-term note in exchange. | Operating ActivitiesFinancing ActivitiesInvesting ActivitiesNoncash Investing and Financing Activities | ||
(c) | Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. | Operating ActivitiesFinancing ActivitiesInvesting ActivitiesNoncash Investing and Financing Activities | ||
(d) | Declared and paid a cash dividend of $18,000. | Investing ActivitiesFinancing ActivitiesOperating ActivitiesNoncash Investing and Financing Activities | ||
(e) | Sold a long-term investment with a cost of $15,000 for $15,000 cash. | Financing ActivitiesInvesting ActivitiesOperating ActivitiesNoncash Investing and Financing Activities | ||
(f) | Collected $16,000 of accounts receivable. | Investing ActivitiesOperating ActivitiesNoncash Investing and Financing ActivitiesFinancing Activities | ||
(g) | Paid $18,000 on accounts payable. | Financing ActivitiesInvesting ActivitiesOperating ActivitiesNoncash Investing and Financing Activities |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started