Identify source, use, and exchange transactions. Indicate whether each of the fo
ID: 2450778 • Letter: I
Question
Identify source, use, and exchange transactions.
Indicate whether each of the following transactions is an asset source(AS), asset use(AU), asset exchange(AE), or claims exchange(CE) transaction.
A.Acquired cash from the issue of stock.
B. Paid a cash dividend to the stockholders.
C. Paid cash on accounts payable
D. Incurred other operating expenses on account
E. Paid cash for rent expenses
F. Performed services for cash
G. Performed services for clients on account
H. Collected cash fromaccounts receivable.
I. Received cash for servicesto be performed in future
J. Purchased land with cash
Explanation / Answer
A. Asset source
B. Claims exchange
C. Claims exchange
D. Claims exchange
E. Claims exchange
F. Assets use
G.Asset use
H.Asset source
I. Asset use
J. Asset Exchange.