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Braxton Corp. was organized on January 1, 2010, to operate a limousines service to and from the airport. For each of the following business activities, indicate whether it is a financing (F), investing (I), or operating (O) activity.
________1 . Issued shares of stock to each of the four owners. ________ 2. Purchased two limousines.________3. Paid first month's rent for use of garage.________4. Obtained loan from local bank. ________ 5. Received cash from customer for trip to the airport. ________ 6. Paid driver first week's wages. ________ 7 . Purchased 500-gallon fuel tank.
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