For each of the following items, indicate whether it would be classified as either an (O) operating activity, an (I) investing activity, a (F) financial activity, or a significant (N) noncash financing and investing activity.
________ (1) Cash sales of merchandise.
________ (2) Sale of land for cash.
________ (3) Signed a note payable in exchange for cash.
________ (4) Purchased supplies for cash.
________ (5) Paid cash to settle an account payable.
________ (6) Purchased a warehouse in exchange for shares of its stock.
________ (7) Paid interest on a note payable.
________ (8) Reissued treasury stock.
________ (9) Purchased equipment for cash.
________ (10) Purchased equipment in exchange for a 6-month note payable.

Question

Quizplus · Accepted Answer

The Answer of For each of the following items, indicate whether it would be classified as either an (O) operating activity, an (I) investing activity, a (F) financial activity, or a significant (N) noncash financing and investing activity.
________ (1) Cash sales of merchandise.
________ (2) Sale of land for cash.
________ (3) Signed a note payable in exchange for cash.
________ (4) Purchased supplies for cash.
________ (5) Paid cash to settle an account payable.
________ (6) Purchased a warehouse in exchange for shares of its stock.
________ (7) Paid interest on a note payable.
________ (8) Reissued treasury stock.
________ (9) Purchased equipment for cash.
________ (10) Purchased equipment in exchange for a 6-month note payable.

For Each of the Following Items, Indicate Whether It Would