I am trying to get this done asap because it is an online assignment and the web site is down for today. I will share my own answers if you all will provide feedback on them. Any guidance on these topics would be much appreciated:
Indicate whether each transaction is classified as a financing (f), investing (i), or operating (o) activity.
1. Pay amount owed to the bank for previous borrowing. (f)
2. Pay utility costs. (o)
3. Purchase equipment to be used in operations. (i)
4. Provide services to customers. (o)
5. Purchase office supplies. (a)
6. Purchase a building. (i).
7. Pay workers' salaries. (o)
8. Pay for research and development costs. (i)
9. Pay taxes to the IRS. (o)
10. Sell common stock to investors. (f)
Financial Accounting - Franklin (Due Monday), Saturday, January 21, 2012 at 2:12pm
For Number Five above, I meant to write (i).