Harry Corporation had the following transactions during 2023. The company follows ASPE.
For each transaction, identify whether the transaction should be considered a cash flow from operating, investing, or financing
activities, or whether the transaction is not a cash activity.
(a)
Issued common shares for $100,000 cash.
(b)
Issued $22,000 worth of common shares in exchange for equipment.
(c)
Collected $52,000 cash for services rendered.
(d)
Purchased shares in another company as a long-term investment for $18,000 cash.
(e)
Collected $9,000 of accounts receivable.
(f)
Paid $14,000 of accounts payable.
(g)
Declared and paid a cash dividend of $12,000.
(h)
Sold a long-term investment with a cost of $18,000 for $18,000 cash.
(i)
Purchased a machine for $35,000 by giving a long-term note in exchange.
(j)
Exchanged land with a fair value of $20,000 for equipment with a fair value of $20,000.
