Question

Required information GULF SEAFOOD Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in ce Ending cash balance

Answer 1

fix b. В2 A C D E F G Н I 1 b. GULF SEAFOOD 2 GULF SEAFOOD balance sheet statement of cash flows 3 as at december 31, year 1 for the year ended december 31, year 1 4 cash flow fromoperating activities cash received from customers 5 assets $14,900 cash $26,200 6 equipment less: accumulated depreciation total assets cash paid for salaries expense net cash flow from operating activities $14,900 -$11,400 7 -$2,460 $12,440 $3,500 8 $38,640 liabilities stockholders' equity cash flow from investing activities cash paid for purchase of equipment net cash flow from investing activities $0 10 -$ 14,900 11 $33,000 -$14,900 common stock 12 retained earnings total stockholders' equity total liabilities & owner's equity $5,640 13 cash flow from financing activities cash received issuance of common stock net cash flow from financing activities $38,640 14 $38,640 $33,000 15 $33,000 16 17 net change in cash add: beginning cash balance ending cash balance $21,600 18 $0 19 $21,600 20 21

for formulas and calculations, refer to the image below -

fox b. B2 B A C D E G H I 1 2 b. GULF SEAFOOD GULF SEAFOOD balance sheet statement of cash flows 3 as at december 31, year 1 for the year ended december 31, year 1 4 cash flow from operating activities cash received from customers cash paid for salaries expense 5 assets - 33000-14900+19500-11400 - 14900 cash 6 equipment less: accumulated depreciation - 14900 -11400 7 (14900-2600)/5 =D7+D8 net cash flow from operating activities | =SUM(H6:H7) =E6+E8 total assets 9 cash flow from investing activities cash paid for purchase of equipment net cash flow from investing activities liabilities stockholders' equity 0 10 11 -14900 common stock retained earnings total stockholders' equity - 33000 12 H11 - 19500-11400-2460 13 cash flow from financing activities cash received issuance of common stock 33000 D12+D13 14 total liabilities & owner's equity -E10+E14 15 net cash flow from financing activities 16 H15 17 net change in cash add: beginning cash balance ending cash balance 18+112+ 116 18 19 E1 18+ 1 19 20 21

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