Chapter 2, Problem 30E

Exercise 2-29A Identifying source, use, and exchange transactions

Required

Indicate whether each of the following transactions is an asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) transaction.

1. a. Acquired cash from the issue of stock.
2. b. Paid a cash dividend to the stockholders.
3. c. Paid cash on accounts payable.
4. d. Incurred other operating expenses on account.
5. e. Paid cash for rent expense.
6. f. Performed services for cash.
7. g. Performed services for clients on account.
8. h. Collected cash from accounts receivable.
9. i. Received cash for services to be performed in the future.
10. j. Purchased land with cash.