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Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture $45,000 Borrowing from bank 125,000 Customers 600,000 Cash payments for: Employee salaries Dividends to stockholders 275,000 25,000 Advertising expense 250,000 Utilities expense 8,000 Purchased an office equipment| 155,000 office supplies 2,000 Noncash Transactions Issue note payable for equipment $750,000 Services to customers on account 125,000 Purchase supplies on account 300 Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? 27. What is the amount of cash outflows from operating activities? 28. $ What is the Net Cash Flows from Operating Activities (if cash used, use "-")?

Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture $45,000 Borrowing from bank 125,000 Customers 600,000 Cash payments for: Employee salaries Dividends to stockholders 275,000 25,000 Advertising expense 250,000 Utilities expense 8,000 Purchased an office equipment| 155,000 office supplies 2,000 Noncash Transactions Issue note payable for equipment $750,000 Services to customers on account 125,000 Purchase supplies on account 300 Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? 27. What is the amount of cash outflows from operating activities? 28. $ What is the Net Cash Flows from Operating Activities (if cash used, use "-")?

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.25E: Financial statements Outlaw Realty, organized August 1. 20Y7, is owned and operated by Julie Baxter....
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Use the following to answer questions 26 – 32 Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture $45,000 Borrowing from bank 125,000 Customers Cash payments for: Employee salaries 600.000 275,000 Dividends to stockholders 25,000 Advertising expense 250,000 Utilities expense 8.000 Purchased an office equipment| 155,000 office supplies 2,000 Noncash Transactions Issue note payable for equipment S750,000 Services to customers on account 125,000 Purchase supplies on account 300 Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? $ from operating activities? 27. What is the amount of cash outflows 28. $ Operating Activities (if cash used, use "-“)? What is the Net Cash Flows from
Transcribed Image Text:Use the following to answer questions 26 – 32 Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture $45,000 Borrowing from bank 125,000 Customers Cash payments for: Employee salaries 600.000 275,000 Dividends to stockholders 25,000 Advertising expense 250,000 Utilities expense 8.000 Purchased an office equipment| 155,000 office supplies 2,000 Noncash Transactions Issue note payable for equipment S750,000 Services to customers on account 125,000 Purchase supplies on account 300 Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? $ from operating activities? 27. What is the amount of cash outflows 28. $ Operating Activities (if cash used, use "-“)? What is the Net Cash Flows from
Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? 27. $ What is the amount of cash outflows from operating activities? 28. $ What is the Net Cash Flows from Operating Activities (if cash used, use "-“)? 29. $ What is the Net Cash Flows from Investing Activities (if cash used, use "-")? 30. $ What is the Net Cash Flows from Financing Activities (if cash used, use "-")? 31. $ How much did cash change (if decrease, use “-“) 32. $ What is the ending cash balance for the company?
Transcribed Image Text:Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $50,000. 26. $ What is the amount of cash inflows from operating activities? 27. $ What is the amount of cash outflows from operating activities? 28. $ What is the Net Cash Flows from Operating Activities (if cash used, use "-“)? 29. $ What is the Net Cash Flows from Investing Activities (if cash used, use "-")? 30. $ What is the Net Cash Flows from Financing Activities (if cash used, use "-")? 31. $ How much did cash change (if decrease, use “-“) 32. $ What is the ending cash balance for the company?
Expert Solution
Step 1

Cash flow statement includes:

  • Cash flows from operating activities
  • Cash flows from investing activities
  • Cash flows from financing activities

The net cash flows from all the above activities are required to be added in the beginning cash balance so as to determine the cash balance at the end of the period.

 

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