Question

The transactions below relate to ABC Company. Indicate how each transaction would be classified on the statement of cash flows. Select your answer by clicking in the drop down box to the right of each transaction. Answer choices may be used once, more than once, or not at all. [Choose ] ABC purchased $40,000 worth of store equipment from Libby Company by paying $8,000 cash and agreeing to pay the remainder within six months. [Choose ABC Company received $3,000 cash from a customer for services to be performed in the following month. ABC Company sold stock to owners for $100,000 cash. [ Choose ] ABC Company received and paid a $500 utility bill. [ Choose ] ABC Company spent $25,000 cash to acquire a patent. [Choose ]

Answer 1

1.CASH FLOW FROM INVESTING ACTIVITIES

2. CASH FLOW FROM OPERATING ACTIVITIES

3. CASH FLOW FROM FINANCING ACTIVITIES

4. CASH FLOW FROM OPERATING ACTIVITIES

5. CASH FLOW FROM INVESTING ACTIVITIES