Place an X in the Column Signifying Whether the Activity

question 13

Essay

Place an X in the column signifying whether the activity is an operating, investing or a financing activity and if it is a source or a use of funds or if it is a non-cash activity.

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Definitions:

Ledger Accounts

Financial records that provide a detailed account of all the transactions related to a particular item over a period.

Journal

A book or electronic record where all transactions are recorded in chronological order.

Chronological Record

A documentation method in which events or transactions are recorded in the order that they occurred.

Assets

Resources owned by a company that have economic value and can be converted into cash.