Reference no: EM132776089
1. Issued common shares for $50,000
2. Purchased a machine for $30,000. Made a $5,000 down payment & issued a long-term note payable for the remainder,
3. Collected $16,000 of accounts receivable,
4. Paid a $25,000 cash dividend,
5. Sold a long-term investment with carrying amount of $15,000 for $18,000
6. Sold inventory for $1,000
7. Paid $18,000 on accounts payable,
8. Purchased a held for trading investment (equity securities) for $100,000
9. Purchased inventory for $28,000 on account,
10. Collected $1,000 in advance from customers,
11. Paid $25,000 to reacquire and retire common shares.
Required:
Problem a) In the above table, indicate by how much each transaction increase (+) or decreases (-) cash. If the transaction has no effect (NE) on cash, say so.
Problem b) Identify whether the transaction should be classified as an operating activity (O), investing activity (I), financing activity (F), or a noncash investing and financing activity (NC).
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