Question

Classify each of the following transactions as an​ operating, investing, or financing​ activity; or a noncash...

Classify each of the following transactions as an​ operating, investing, or financing​ activity; or a noncash investing and financing activity.

6. Collection of sales revenue 7. Conversions of bonds payable to common stock 8. Loss on the sale of equipment 9. Purchase of another company's stock (to be held for more than one year) 10. Purchase of merchandise inventory

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Answer #1

Classify each of the following transactions as an​ operating, investing, or financing​ activity; or a noncash investing and financing activity.

6. Collection of sales revenue Operating activities
7. Conversions of bonds payable to common stock noncash investing and financing activity
8. Loss on the sale of equipment Operating activities (indirect method)
9. Purchase of another company's stock (to be held for more than one year) Investing activities
10.Purchase of merchandise inventory Operating activities
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