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For Each of the Following Items, Indicate Whether It Would

Question 236

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For each of the following items, indicate whether it would be classified as either an

Premises:
Cash sales of merchandise.
Sale of land for cash.
Signed a note payable in exchange for cash.
Purchased supplies for cash.
Paid cash to settle an account payable.
Purchased a warehouse in exchange for shares of its stock.
Paid interest on a note payable.
Reissued treasury stock.
Purchased equipment for cash.
Purchased equipment in exchange for a 6-month note payable.
Responses:
(O) operating activity
(I) investing activity
(F) financing activity
(N) noncash financing and investing activity.

Correct Answer:

Cash sales of merchandise.
Sale of land for cash.
Signed a note payable in exchange for cash.
Purchased supplies for cash.
Paid cash to settle an account payable.
Purchased a warehouse in exchange for shares of its stock.
Paid interest on a note payable.
Reissued treasury stock.
Purchased equipment for cash.
Purchased equipment in exchange for a 6-month note payable.
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