Homework Answers
Asset sources are when the asset is coming in the business.
Asset uses are when the asset is going out of business.
Exchange of assets are when one asset is exchanged for another.
Based upon the above definition, we can classify the given transactions as below:
| Event | Classification |
| 1 | Source of asset |
| 2. | Use of asset |
| 3. | Use of asset |
| 4. | Source of asset |
| 5. | Exchange transaction |
| 6. | NA |
| 7. | Source of asset |
| 8. | Use of asset |
| 9. | Source of cash |
| 10. | Exchange transaction |
| 11. | Source of cash |
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