Calvin Corp

question 94

Essay

Calvin Corp. was organized on January 1 to operate a taxi service. For each of the following business activities, please indicate whether it is a financing F, investing I or operating O activity.
A. Issued shares of stock to each of the five owners.
B. Purchased five automobiles to use as taxis.
C. Paid the first month's rent for a garage.
D. Obtained a loan from the bank.
E. Received cash from a customer for a 10-mile taxi ride.
F. Paid the drivers wages for the first week.
G. Purchased a fueling station to install at the garage includes a 500 gallon tank.
H. Declared and paid cash dividends to the owners after the first month's operations.
I. Paid cash to repair the brakes on one of the taxis. J Bought land for a future taxi office.

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Definitions:

Census Generation

A cohort of individuals born within a specific period, identified or analyzed through census data.

Peer Group

A community made up of people who share the same age range, social status, interests, or educational background, frequently shaping their behaviors and viewpoints.

Life Expectancy

The average period that a person is expected to live, based on statistical averages of age, gender, and other demographic factors.

Average Age

Calculated as the mean age of a population or group, it gives an indication of the demographic makeup concerning age.