FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Market Efficiency
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b. Prepare a statement of cash flows. (There is no beginning cash balance.) (Amounts to be deducted should be indicated with a minus sign.) nts EWING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities eBook Print References Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance
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Transcribed Image Text:b. Prepare a statement of cash flows. (There is no beginning cash balance.) (Amounts to be deducted should be indicated with a minus sign.) nts EWING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities eBook Print References Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance
The following transactions pertain to the operations of Ewing Company for Year 1: $24,900 cash from the issue of common stock. Acquired 2. Provided $16,600 of services on account. 3. Paid $17,600 cash on accounts payable. 4. Performed services for $40,000 cash. 5. Collected $5,400 cash from accounts receivable. 6. Incurred $9,350 of operating expenses on account. 7. Paid a $25,400 cash for one year's rent in advance. 8. Paid a $8,800 cash dividend to the stockholders. 9. Paid $1,200 cash for supplies to be used in the future. 10. Recognized $34,200 of accrued salary expense. 1. Book Print Required a. Classify the cash flows from these transactions as operating activities (OA), investing activities (IA), or financing activities (FA). Use NA for transactions that do not affect the statement of cash flows. erences Transaction Classification 1. 2. 4. 5. 6. 7. 8. 9. 10.
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Transcribed Image Text:The following transactions pertain to the operations of Ewing Company for Year 1: $24,900 cash from the issue of common stock. Acquired 2. Provided $16,600 of services on account. 3. Paid $17,600 cash on accounts payable. 4. Performed services for $40,000 cash. 5. Collected $5,400 cash from accounts receivable. 6. Incurred $9,350 of operating expenses on account. 7. Paid a $25,400 cash for one year's rent in advance. 8. Paid a $8,800 cash dividend to the stockholders. 9. Paid $1,200 cash for supplies to be used in the future. 10. Recognized $34,200 of accrued salary expense. 1. Book Print Required a. Classify the cash flows from these transactions as operating activities (OA), investing activities (IA), or financing activities (FA). Use NA for transactions that do not affect the statement of cash flows. erences Transaction Classification 1. 2. 4. 5. 6. 7. 8. 9. 10.
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