please answer complete and correct with reason and calculation for all answer in text Required informationP3-7 (Algo) Recording Journal Entries and Identifying Cash Flow Effects LO3-4, 3-7[The following information applies to the questions displayed below.]Pine Fair, L.P. (Limited Partnership), is one of the largest regional amusement park operators in the world, owning 11amusement parks, two water parks, and four hotels. The parks Include Pine Point in Ohio; Valleyfair near Minneapolis/St.Paul; Dorney Park and Wildwater Kingdom near Allentown, Pennsylvania; Worlds of Fun In Kansas City; Great America InSanta Clara, California; and Canada's Wonderland near Toronto, Canada, among several others. The following aresummarized transactions similar to those that occurred in a recent year. Dollars are in thousands.P3-7 Part 22. For the transactions below, indicate how the transactions will affect the statement of cash flows. Cash outflows should be entered asnegative amounts. The first transaction is provided as an example. (If there is no effect on the statement of cash flows, select "Noeffect". Enter your answers in thousands, not in dollars. Cash outflows should be Indicated with a minus sign.)a.b.Transaction Type of ActivityOperatingC.d.ef.9a. Guests at the parks paid $636,042 cash in admissions.b. The primary operating expenses for the year were employee wages of 465,416, with $433,630 paid in cash and therest to be paid to employees in the following year.c. Pine Fair paid $49,500 principal on long-term notes payable.d. The parks sells merchandise in park stores. The cash received during the year for sales was $397,693. The cost ofthe Inventory sold during the year was $100,057.e. Pine Fair purchased and built additional rides and other equipment during the year, paying $97,390 in cash.h.f. Guests may stay in the parks at accommodations owned by the company. During the year, accommodations revenuewas $89,394; $87,855 was paid by the guests in cash and the rest was owed on account.g. Interest incurred and paid on long-term debt was $169,326.h. The company purchased $159,531 In Inventory for the park stores during the year, paying $129,031 In cash andowing the rest on account.1. Advertising costs for the parks were $152,426 for the year; $142,844 was paid in cash and the rest was owed onaccount.J. Pine Fair paid $13,200 on accounts payable during the year.iįEffect on CashFlows638,042

Cash Flow Statement is a Financial Statement that includes inflow and outflow of cash during the…

Required Information P3-7 (Algo) Recording Journal Entries and Identifying Cash Flow Effects LO3-4, 3-7 [The following information applies to the questions displayed below] Pine Fair, L.P. (Limited Partnership), is one of the largest regional amusement park operators in the world, owning 11 amusement parks, two water parks, and four hotels. The parks include Pine Point in Ohio; Valleyfair near Minneapolis/St. Paul, Dorney Park and Wildwater Kingdom near Allentown, Pennsylvania; Worlds of Fun In Kansas City, Great America in Santa Clara, California; and Canada's Wonderland near Toronto, Canada, among several others. The following are summarized transactions similar to those that occurred in a recent year. Dollars are in thousands. b. a. Guests at the parks paid $636,042 cash in admissions. b. The primary operating expenses for the year were employee wages of 465,416, with $433,630 paid in cash and the rest to be paid to employees in the following year. c. Pine Fair paid $49,500 principal on long-term notes payable. d. .. f d. The parks sells merchandise in park stores. The cash received during the year for sales was $397,693. The cost of the Inventory sold during the year was $100,057. e. Pine Fair purchased and built additional rides and other equipment during the year, paying $97,390 in cash. f. Guests may stay in the parks at accommodations owned by the company. During the year, accommodations revenue was $89,394; $87,855 was paid by the guests in cash and the rest was owed on account. P3-7 Part 2 2. For the transactions below, indicate how the transactions will affect the statement of cash flows. Cash outflows should be entered as negative amounts. The first transaction is provided as an example. (If there is no effect on the statement of cash flows, select "No effect". Enter your answers in thousands, not in dollars. Cash outflows should be Indicated with a minus sign.) D h L g. Interest incurred and paid on long-term debt was $169,326. h. The company purchased $159,531 in Inventory for the park stores during the year, paying $129,031 in cash and owing the rest on account. Transaction Type of Activity Effect on Cash Flows Operating 1.Advertising costs for the parks were $152,426 for the year, $142,844 was paid in cash and the rest was owed on account. J. Pine Fair paid $13,200 on accounts payable during the year. 638,042