Selected transactions of Eller Company are listed below.
1. Ordinary shares are sold for cash above par value.
2. Bonds payable are issued for cash at a discount.
3. Interest receivable on a current note receivable is collected.
4. Land is sold for cash at book value.
5. Accounts payable are paid in cash.
6. Equipment is purchased by signing a 3-year, 10% note payable.
7. Cash dividends on ordinary shares are declared and paid.
8. 100 shares of XYZ ordinary shares are purchased for cash.
9. Merchandise is sold to customers for cash.
10. Bonds payable are converted into ordinary shares.
Instructions
Classify each transaction as either (a) an operating activity, (b) an investing activity, (c) a financing activity, or (d) a non-cash investing and financing activity.

Question

Quizplus · Accepted Answer

The Answer of Selected transactions of Eller Company are listed below.
1. Ordinary shares are sold for cash above par value.
2. Bonds payable are issued for cash at a discount.
3. Interest receivable on a current note receivable is collected.
4. Land is sold for cash at book value.
5. Accounts payable are paid in cash.
6. Equipment is purchased by signing a 3-year, 10% note payable.
7. Cash dividends on ordinary shares are declared and paid.
8. 100 shares of XYZ ordinary shares are purchased for cash.
9. Merchandise is sold to customers for cash.
10. Bonds payable are converted into ordinary shares.
Instructions
Classify each transaction as either (a) an operating activity, (b) an investing activity, (c) a financing activity, or (d) a non-cash investing and financing activity.

Selected Transactions of Eller Company Are Listed Below