Braxton Corp. was organized on January 1 to operate a limousines service to and from the airport. For each of the following business activities, select whether it is a financing, investing or operating activity. 1. Issued shares of stock to each of the four owners. _____ 2. Purchased two limousines. _____ 3. Paid first month’s rent for use of garage. _____ 4. Obtained loan from local bank. _____ 5. Received cash from customer for trip to the airport. _____ 6. Paid driver first week’s wages. _____ 7. Purchased 500-gallon fuel tank. _____
