Classify each of the following events as an asset source (AS), asset use (AU), asset exchange (AX), or not applicable (NA).
_______ 1) Borrowed cash from the bank.
_______ 2) Issued stock for cash.
_______ 3) Invested cash in the common stock of another company.
_______ 4) Paid cash for operating expense.
_______ 5) Performed services and collected cash.
_______ 6) Purchased equipment for cash.
_______ 7) Repaid the bank loan with cash.
_______ 8) Dividends paid to the stockholders.

Question

Quizplus · Accepted Answer

The Answer of Classify each of the following events as an asset source (AS), asset use (AU), asset exchange (AX), or not applicable (NA).
_______ 1) Borrowed cash from the bank.
_______ 2) Issued stock for cash.
_______ 3) Invested cash in the common stock of another company.
_______ 4) Paid cash for operating expense.
_______ 5) Performed services and collected cash.
_______ 6) Purchased equipment for cash.
_______ 7) Repaid the bank loan with cash.
_______ 8) Dividends paid to the stockholders.

Classify Each of the Following Events as an Asset Source