Question

Prepare the statement of cash flows.(explaining how each filed is calculated) Complete the statement one section...

Prepare the statement of cash flows.(explaining how each filed is calculated) Complete the statement one section at a​ time, beginning with the heading and cash flows from operating activities. ​(Use a minus sign or parentheses for a decrease in cash. If a box is not used in the table leave the box​ empty; do not select a label or enter a zero. Complete all answer boxes in the final​ section, though. Enter a​ "0" for any zero cash​ balance.)

a.Receives a $20,000 contribution from Rafael Snapton and issues common stock to Rafael Snapton.

b. Purchases $400 of office supplies on account.

c. Pays cash of $15,000 to acquire a lot next to campus.

d. Locates apartments for clients and receives cash of $ 2,600

e. Pays $350 on the accounts payable the business created in Transaction​ (b).

f. Pays cash expenses for office​ rent $300​ and​ utilities, $50.

g.Pays cash dividends of $1,800 to stockholders.

ASSETS

=

LIAB.

+

EQUITY

Contributed

Capital

+

Retained Earnings

Cash

+

Office

+

Land

=

Accounts

+

Common

-

Dividends

+

Service

-

Rent

-

Utilities

Supplies

Payable

Stock

Revenue

Expense

Expense

(a)

20,000

+

+

=

+

20,000

-

+

-

-

(b)

+

400

+

=

400

+

-

+

-

-

Bal.

20,000

+

400

+

0

=

400

+

20,000

-

0

+

0

-

0

-

0

(c)

(15,000)

+

+

15,000

=

+

-

+

-

-

Bal.

5,000

+

400

+

15,000

=

400

+

20,000

-

0

+

0

-

0

-

0

(d)

2,600

+

+

=

+

-

+

2,600

-

-

Bal.

7,600

+

400

+

15,000

=

400

+

20,000

-

0

+

2,600

-

0

-

0

(e)

(350)

+

+

=

(350)

+

-

+

-

-

Bal.

7,250

+

400

+

15,000

=

50

+

20,000

-

0

+

2,600

-

0

-

0

(f)

(350)

+

+

=

+

-

+

-

300

-

50

Bal.

6,900

+

400

+

15,000

=

50

+

20,000

-

0

+

2,600

-

300

-

50

(g)

(1,800)

+

+

=

+

-

1,800

+

-

-

Bal.

5,100

+

400

+

15,000

=

50

+

20,000

-

1,800

+

2,600

-

300

-

50

$20,500

=

$20,500

Payments:

To suppliers

Net cash provided (used) by operating activities

Cash flows from investing activities:

Acquisition of land

Net cash provided (used) by investing activities

----

Net increase (decrease) in cash

-----

Cash balance, July 1, 2018

Cash balance, July 31, 2018

$---
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Homework Answers

Answer #1
Cashflow Statement
Cashflows from Operating activities:
Cash received from client 2600
Cash paid form supplies -350
Cash paid for rent -300
Cash paid for utilities -50
Net cash provided from Operating activities 1900
Cashflows from Investing activities:
Land purchased -15000
Net cash used in investing activities -15000
Cashflows from Financing activities:
Issue of Common Stock 20000
Dividend paid -1800
Net Cash provided from financing activities 18200
Net cash icnrease 5100
Beginning balancne of cash 0
Ending balance of cash 5100
0 0
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