Below are several transactions for Bluebeard Corporation for 2024 a Issue common stock for cash, $49,000. b. Purchase building and land with cash, $34,000 c Provide services to customers on account, $6,900 d. Pay utilities on building. $950 e Collect $4,900 on account from customers. f Pay employee salaries, $8,900. g Pay dividends to stockholders, $3,900. Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year 3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024

Below are several transactions for Bluebeard Corporation for 2024 a Issue common stock for cash, $49,000. b. Purchase building and land with cash, $34,000 c Provide services to customers on account, $6,900 d. Pay utilities on building. $950 e Collect $4,900 on account from customers. f Pay employee salaries, $8,900. g Pay dividends to stockholders, $3,900. Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year 3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024

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Description: Below are several transactions for Bluebeard Corporation for 2024a. Issue common stock for cash, $49,000.b. Purchase building and land with cash, $34,000.c. Provide services to customers on account, $6,900.d. Pay utilities on building, $950.e. Colle

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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