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ACC 206 Week 1 Assignment Chapter One
Problems
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assignment-chapter-one-problems
Answer the following questions:
Why are noncash transactions, such as the exchange of common stock
a building, included on a statement of cash flows? How are these
noncash transactions disclosed?
Chapter 1 Exercise 1:
1. Classification of activities
Classify each of the following transactions as arising from an operating
(O), investing (I), financing (F), or noncash investing/financing (N)
activity.
a. ________ Received $80,000 from the sale of land.
b. ________ Received $3,200 from cash sales.
c. ________ Paid a $5,000 dividend.