FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text: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.
of 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
Complete this question by entering your answers in the tabs below.
Req 1 and 2
Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024.
Cash balance
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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.
Question 5 - Chapter 4 Homewo X
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.
Req 1 and 2
Complete this question by entering your answers in the tabs below.
ere to search
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.
F2
Req 3
lerun common stock for cach $40.000
F3
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.
(Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.)
Transaction
Activity Stream
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Cash Flows
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Operating, Investing
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Transcribed Image Text:du
Homework
X
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Ftamusa blackbo
ar Nam... ball polisll (77) 5 [4/4] Movie - Ashab... 2 109 Fredonia St, Sa... 2142 Sargent St, San... 142 Sargent St, San...
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.
Question 5 - Chapter 4 Homewo X
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.
Req 1 and 2
Complete this question by entering your answers in the tabs below.
ere to search
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.
F2
Req 3
lerun common stock for cach $40.000
F3
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.
(Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.)
Transaction
Activity Stream
Et
F4
K
F5
11
Cash Flows
e
F6
▶
Saved
Operating, Investing
or Financing
< Prex
F7
X
5 of 10
DOLL
+
F8
Next >
F9
a
Desktop
F10
F1
Expert Solution
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Step 1
The cash flows of the company are divided into three types of activities like financing, operating, and investing. The operating cash flow generally includes cash flows from day-to-day operations. The cash inflows increase the cash balance.
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