Indicate on the blanks below the letter of the type of activity (O = operating activity, F = financing activity, I = investing activity, N = noncash transaction) each of the following transactions represents. _____ 1. Company sold shares of its own stock for cash. _____ 2. Acquired land and buildings by issuance of long-term mortgage payable. _____ 3. Declared and paid cash dividends. _____ 4
Received interest income. _____ 5. Exchanged shares of stock for 15-year bonds. _____ 6. Paid the U.S. Treasury for income taxes. _____ 7. Collected proceeds from the sale of a long-term investment at cost. _____ 8. Declared stock dividends. _____ 9. Paid off long-term debt with cash. _____ 10. Purchased equipment with cash.
Fill in the blank(s) with correct word
1. F 5. N 8. N
2. N 6. O 9. F
3. F 7. I 10. I
4. O
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