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

question 21

Short Answer

Classify each of the following transactions for the purpose of the statement of cash flow 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 recognize interest revenue on investments.
2) ____ Borrowed funds from the bank.
3) ____ Paid rent in advance for the next six months.
4) ____ Paid cash to settle accrued salary expense.
5) ____ Purchased supplies on account.
6) ____ Collected accounts receivable.
7) ____ Sold land.

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Definitions:

Nurses

Trained professionals who provide care and support to patients in various settings, playing crucial roles in medical teams and healthcare delivery with responsibilities that include medical care, patient education, and health advocacy.

Objective Stance

A neutral, unbiased perspective that is not influenced by personal feelings or opinions in considering and representing facts.

Human Health Service

Organizations and resources dedicated to promoting, maintaining, or restoring health through the prevention and treatment of illness.

Helpful Activity

A helpful activity refers to any action undertaken to provide aid, support, or benefit to individuals or groups.