Selected transactions for the Ecker Company are listed below. Classify each tran

Question

Selected transactions for the Ecker Company are listed below. Classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash investing and financing activity.

1. Collected accounts receivable.

2. Declared and paid dividends on common stock.

3. Sold long-term investments for cash.

4. Issued stock for equipment.

5. Repaid five year note payable.

6. Paid employee wages.

7. Converted bonds payable to common stock.

8. Acquired long-term investment with cash.

9. Sold buildings and equipment for cash.

10. Sold merchandise to customers.

Explanation / Answer

1. Operating activity

2. Financing activity

3. Investing activity

4. Noncash activity

5. Financing activity

6. Operating activity

7. Noncash activity

8. Investing activity

9. Investing activity

10. Operating activity

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