Problem 13-1A a-c The following is a list of transactions that took place during the year: (a) (b) (

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Problem 13-1A a-c The following is a list of transactions that took place during the year: (a) (b) (c) Classify each of the b

Problem 13-1A a-c The following is a list of transactions that took place during the year: (a) (b) (c) Classify each of the below transactions as an operating activity, investing activity, financing activity, or noncash investing and financing activity. If it does not fit into one of these classifications, indicate that there is no effect. The first one has been done for you as an example. Specify if the transaction will result in a cash receipt, cash payment, or have no effect on cash. Indicate if the transaction will increase, decrease, or have no effect on net income. (a) Classification Operating Activity (b) Cash Flow Cash Payment (c) Profit Decrease 1. 2. Paid salaries to employees. Sold land for cash, at a gain. 3-1. Purchased a building by making a down payment in cash. 3-i. Purchased a building by signing a mortgage payable for the balance. 4. Made a principal repayment on the mortgage. 5. Paid interest on the mortgage. 6. Issued common shares for cash. 7. Purchased shares of another company to be held as a long-term non-strategic investment. 8. Paid dividends to shareholders. 9. Sold inventory on account, at a price greater than cost. The company uses a perpetual inventory system. 10. Wrote down the cost of the remaining inventory to its net realizable value.

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