Accounting Forum/Excel

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stice19_student_05-24.xlsx
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05-24

5-24 Name:
Choose the correct answers from the drop-down lists provided in Column E.
The word “Wrong” will appear to the left of incorrect entries.
Activity Classification
(a) Cash collected from customers. Operating
(b) Cash paid to suppliers for inventory. Investing
(c) Cash received for interest on a nontrade Financing
note receivable. Noncash
(d) Cash received from issuance of stock.
(e) Cash paid for dividends.
(f) Cash received from bank on a loan.
(g) Cash paid for interest on a loan.
(h) Cash paid to retire bonds.
(i) Cash paid to purchase stock of another
company as a long-term investment
(j) Cash received from the sale of a
business segment.
(k) Cash paid for property taxes.
(l) Cash received for dividend revenue.
(m) Cash paid for wages.
(n) Cash paid for insurance.
(o) Preferred stock retired by issuing
common stock.
(p) Depreciation expense for the year.
(q) Cash paid to purchase machinery.
(r) Cash received from the sale of land.

Solution

5-24 Name: Solution
Choose the correct answer from the drop-down menu given in Column E.
The word “Wrong” will appear to the left of an incorrect answer.
Activity Classification
(a) Cash collected from customers. Operating Operating
(b) Cash paid to suppliers for inventory. Operating Investing
(c) Cash received for interest on a nontrade Financing
note receivable. Operating Noncash
(d) Cash received from issuance of stock. Financing
(e) Cash paid for dividends. Financing
(f) Cash received from bank on a loan. Financing
(g) Cash paid for interest on a loan. Operating
(h) Cash paid to retire bonds. Financing
(i) Cash paid to purchase stock of another
company as a long-term investment Investing
(j) Cash received from the sale of a
business segment. Investing
(k) Cash paid for property taxes. Operating
(l) Cash received for dividend revenue. Operating
(m) Cash paid for wages. Operating
(n) Cash paid for insurance. Operating
(o) Preferred stock retired by issuing
common stock. Noncash
(p) Depreciation expense for the year. Noncash
(q) Cash paid to purchase machinery. Investing
(r) Cash received from the sale of land. Investing