Listed below are eight transactions. In each case identify whether the transaction is an exam ple of
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Listed below are eight transactions. In each case identify whether the transaction is an exam¬ ple of financing, investing, or operating activities, and which of the financial statements it would affect. 1. Common stock is issued for $500,000 in cash. 2. Twenty units of inventory are sold for $50 each. 3. Employee wages are paid. 4. A new warehouse facility is purchased. 5. Principal payments on outstanding debt are paid. 6. Dividends are paid to the shareholders. 7. A 4-year-old vehicle, used as a delivery truck, is sold for $9,000. 8. A utility bill for March is paid. E2-2 (Identifying financing, investing, and operating transactions)
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