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

question 142

Short Answer

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) _____ Made adjusting entry to accrue salary expense at the end of the year
2) _____ Borrowed funds from the bank
3) _____ Paid rent for the month
4) _____ Paid cash to settle accounts payable
5) _____ Issued common stock for $30,000 cash
6) _____ Collected accounts receivable
7) _____ Paid cash to acquire land

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Definitions:

Association Areas

Regions of the brain that integrate information from different sensory inputs and are involved in complex cognitive processes.

Sensory

Relating to or involving the senses (sight, hearing, taste, touch, and smell).

Motor

Relates to the physiological movement or the mechanism driving a system or part of the body, especially those relating to muscles.

Limbic System

A complex system of nerves and networks in the brain, controlling basic emotions and drives.