Classifying an Operating Activity, Investing Activity, Financing Acticity. + is cash inflow, - is cash outflow for statement of cash flows. 1) Acquired 46,000 cash from issue of common stock. FA + 2)Paid 13,100 cash in advance for rent. Period, April 1 year 1, to March 31 year 2. OA - 5) Collected 72,000 cash from accounts recievable. OA + 6) Paid 32,000 cash for salary expense. OA - 7) Paid 32,400 cash as partial payment for accounts payable. OA - Are these classified correct?

Classifying an Operating Activity, Investing Activity, Financing Acticity. + is cash inflow, - is cash outflow for statement of cash flows. 1) Acquired 46,000 cash from issue of common stock. FA + 2)Paid 13,100 cash in advance for rent. Period, April 1 year 1, to March 31 year 2. OA - 5) Collected 72,000 cash from accounts recievable. OA + 6) Paid 32,000 cash for salary expense. OA - 7) Paid 32,400 cash as partial payment for accounts payable. OA - Are these classified correct?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Classifying an Operating Activity, Investing Activity, Financing Acticity. + is cash inflow, - is cash outflow for statement of cash flows.

1) Acquired 46,000 cash from issue of common stock. FA +

2)Paid 13,100 cash in advance for rent. Period, April 1 year 1, to March 31 year 2. OA -

5) Collected 72,000 cash from accounts recievable. OA +

6) Paid 32,000 cash for salary expense. OA -

7) Paid 32,400 cash as partial payment for accounts payable. OA -

Are these classified correct?

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