Question Details

Selected transactions of Alton Company 




1
Classify each of the following as a(n):
	A.	Operating Activity
	B.	Investing Activity
	C.	Financing Activity

_____	1	Issuance of bonds.
_____	2.	Sale of equipment.
_____	3.	Amortization expense.
_____	4.	Purchase of treasury stock.
_____	5.	Receipt of dividends on investment.
_____	6.	Purchase of land.


2
Selected transactions of Alton Company are listed below.
	1.	Common stock is sold for cash above par value.
	2.	Bonds payable are issued for cash at a discount.
	3.	Interest receivable on a short-term note receivable is collected.
	4.	Land is sold for cash at book value.
	5.	Accounts payable are paid in cash.
	6.	Equipment is purchased by signing a 3-year, 10% note payable.
	7.	Cash dividends on common stock are declared and paid.
	8.	100 shares of XYZ common stock are purchased for cash.
	9.	Merchandise is sold to customers for cash.
	10.	Bonds payable are converted into common stock.

Instructions
Classify each transaction as either (a) an operating activity, (b) an investing activity, (c) a financing activity, or (d) a noncash investing and financing activity.



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