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:

Positive Events

Occurrences or situations that bring about happiness, joy, or other favourable emotions.

Optimal Level

The most favorable point or degree of something, where the conditions or outcomes are at their best or most effective.

Simple Tasks

Activities or assignments that are straightforward and easy to complete.

High Level

Pertaining to advanced status, complexity, or capability in a particular field or activity.