Textbook Problem

Brief Exercise 1-23 Business Activities

Marni Restaurant Company engaged in the following transactions during March, its first month of operations.

1. Received $100,000 cash from the sale of stock.
2. Purchased of $20,000 inventory from J&J Wholesale Company.
3. Purchased $30,000 of kitchen equipment for its restaurants.
4. Obtained a $25,000 loan from First State Bank.
5. Sold $18,000 of food to customers.
6. paid employee weekly salaries of $8,500.
7. Repaid S 10,000 of principal relating to the loan in Item d.

Required:

For each of the above business activities, indicate whether it is an operating, investing, or financing activity.