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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
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. Selected transactions of Humble Landings, a private corporation, reporting under ASPE, are listed below: 1. 2. . . 3. 4. 5. • Common shares are sold for cash. Bonds payable are issued for cash at a discount Interest receivable on a short-term note receivable is collected. • Merchandise is sold to customers for cash. • Accounts payable are paid in cash. Equipment is purchased by signing a 3-year, 6% note payable. Cash dividends on common shares are declared and paid. 6. ? 7. > 8 8. ? 100 shares of XYZ common shares are purchased for cash. 9. • Land is sold for cash at carrying amount 10. . Bonds payable are converted into common shares.
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