Classify Each of the Following Transactions for the Purpose of the Statement

question 127

Essay

Classify each of the following transactions for the purpose of the statement of cash flows as operating activities (OA),investing activities (IA),financing activities (FA),or not reported on the statement of cash flows (NA).
1)_____Collected accounts receivable
2)_____Made adjusting entry to accrue salary expense at the end of the year
3)_____Borrowed funds from the bank
4)_____Paid rent for the month
5)_____Paid cash to settle accounts payable
6)_____Issued common stock for $30,000 cash
7)_____Paid cash to acquire land

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Definitions:

Premium Rates

The cost of insurance coverage, typically charged monthly or annually, determined by risk factors and the amount of coverage.

Fair Debt Collection Practices Act

U.S. legislation aimed at promoting fair debt collection practices and protecting consumers against abusive, deceptive, and unfair collection practices.

Digital Music Player

A portable electronic device designed to play digital audio files, such as MP3s, without needing physical media like CDs.

Fair Credit Reporting Act

A federal law in the United States designed to ensure the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.