Use This Information to Answer the Following Question

question 22

Multiple Choice

Use this information to answer the following question.

Oconee Corporation is preparing a statement of cash flows. The following transactions occurred during the year:

1. Sold machinery for $18,000 cash.
2. Purchased a building for $160,000 cash.
3. Issued $140,000 worth of stock to acquire an airplane.
4. Converted long-term bonds by issuing $200,000 worth of stock.
5. Declared and paid a $20,000 cash dividend.

Transaction 1 would be found on the statement of cash flows in the

• A) cash flows from operating activities section.
• B) cash flows from financing activities section.
• C) noncash investing and financing transactions section.
• D) cash flows from investing activities section.

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Definitions:

Biographical Information Blank

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Weighted Application Blank

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Multiple-Choice Format

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