The list that follows itemizes Furlong Corporations transactions Identify each as (a) An operating activity, (b) An investing activity, (c) A financing activity, (d) A noncash transaction, or (e) None of the above 1 Sold land 2 Declared and paid a cash dividend 3 Paid interest 4 Issued common stock...

1 b An investing activity 2 c A fi ...

The list that follows itemizes Furlong Corporations transactions. Identify each as (a) An operating activity, (b) An

Question:

The list that follows itemizes Furlong Corporation’s transactions. Identify each as

(a) An operating activity,

(b) An investing activity,

(d) A noncash transaction, or

(e) None of the above.

1. Sold land

2. Declared and paid a cash dividend.

3. Paid interest.

4. Issued common stock for plant assets.

5. Issued preferred stock.

6. Borrowed cash on a bank loan.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...