Classify each transaction as an operating, an investing, or a financing activity.

Classifying Business Transactions

Bob Jacobs opened an advertising agency. The following transactions occurred during January of the current year. Classify each transaction as an operating, an investing, or a financing activity.

a. Invested cash in the business, $5,000.  
b. Purchased office equipment. Paid $2,500 cash and agreed to pay
the balance of $2,000 in four monthly installments.
c. Paid office rent, $400.  
d. Received cash for services rendered, $700.  
e. Paid phone bill, $95.  
f. Received cash for services rendered, $600.  
g. Made payment on loan in transaction (b), $500.  
h. Paid wages to part-time employee, $800.  
i. Paid electricity bill, $100.  
j. Withdrew cash for personal use, $500.  
k. Paid wages to part-time employee, $600.  
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