Selected Transactions of Eller Company Are Listed Below

question 30

Essay

Selected transactions of Eller Company are listed below.
1. Ordinary shares are sold for cash above par value.
2. Bonds payable are issued for cash at a discount.
3. Interest receivable on a current note receivable is collected.
4. Land is sold for cash at book value.
5. Accounts payable are paid in cash.
6. Equipment is purchased by signing a 3-year, 10% note payable.
7. Cash dividends on ordinary shares are declared and paid.
8. 100 shares of XYZ ordinary shares are purchased for cash.
9. Merchandise is sold to customers for cash.
10. Bonds payable are converted into ordinary shares.
Instructions
Classify each transaction as either (a) an operating activity, (b) an investing activity, (c) a financing activity, or (d) a non-cash investing and financing activity.

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Definitions:

Non-minorities

Individuals or groups not belonging to a socially, politically, or economically disadvantaged minority group.

Workers' Compensation Acts

Laws designed to provide financial and medical benefits to employees who are injured or become ill as a direct result of their job.

Litigation

The process of taking legal action in court to enforce or defend one's rights.

Injured Workers

Individuals who have suffered physical or psychological harm as a result of their work activities or conditions.