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(Solution) - Gallup Corporation had these transactions during 2011 a Issue

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Gallup Corporation had these transactions during 2011.
(a) Issued $50,000 par value common stock for cash.
(b) Purchased a machine for $30,000, giving a long-term note in exchange.
(c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d) Declared and paid a cash dividend of $18,000.
(e) Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f ) Collected $16,000 of accounts receivable.
(g) Paid $18,000 on accounts payable.

Instructions
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.

 







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This question was answered on: Jul 11, 2017

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