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For Each of the Following Transactions, Indicate the Section in Which

Question 79

Essay

For each of the following transactions, indicate the section in which it may be included. Use O for the operating section, I for the investing activities section, F for the financing section, S for a separate schedule of noncash investing and financing activities, and N for items not disclosed on the statement of cash flows.
________ a. Paid cash dividends
________ b. Paid interest on a short-term note payable
________ c. Sold treasury stock for cash
________ d. Converted debt to common stock
________ e. Paid accounts payable
________ f. Paid salaries
________ g. Received cash dividends
________ h. Sold merchandise for cash
________ i. Acquired a patent by issuing common stock
________ j. Purchase of land using preferred stock
________ k. Received stock dividends

Correct Answer:

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a. F, b. O, c. F, d....

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