Kiley Corporation had these transactions during 2022. Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. (a) Purchased a machine for $30,000, giving a long-term note in exchange. select an option (b) Issued $50,000 par value common stock for cash. select an option (c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. select an option (d) Declared and paid a cash dividend of $13,000. select an option (e) Sold a long-term investment with a cost of $15,000 for $15,000 cash. select an option (f) Collected $16,000 from sale of goods. select an option (g) Paid $18,000 to suppliers.
Kiley Corporation had these transactions during 2022. Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. (a) Purchased a machine for $30,000, giving a long-term note in exchange. select an option (b) Issued $50,000 par value common stock for cash. select an option (c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. select an option (d) Declared and paid a cash dividend of $13,000. select an option (e) Sold a long-term investment with a cost of $15,000 for $15,000 cash. select an option (f) Collected $16,000 from sale of goods. select an option (g) Paid $18,000 to suppliers.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Kiley Corporation had these transactions during 2022.
Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.
| (a) |
Purchased a machine for $30,000, giving a long-term note in exchange.
|
select an option | ||
|---|---|---|---|---|
| (b) |
Issued $50,000 par value common stock for cash.
|
select an option | ||
| (c) |
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
|
select an option | ||
| (d) |
Declared and paid a cash dividend of $13,000.
|
select an option | ||
| (e) |
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
|
select an option | ||
| (f) |
Collected $16,000 from sale of goods.
|
select an option | ||
| (g) |
Paid $18,000 to suppliers.
|
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