A)
Event | Classification |
1 | OA |
2 | IA |
3 | NA |
4 | FA |
5 | FA |
6 | OA |
7 | IA |
8 | FA |
9 | OA |
10 | FA |
B)
ALL STAR AUTOMATIVE COMPANY | ||
Statement of Cash flows | ||
For the year Ended December 31,2016 | ||
Cash flows from Operating Activities | ||
Cash Receipts from Revenue | 14,700.00 | |
Cash Payment for Salary Expense | - 4,700.00 | |
Cash payment for utilities Expense | - 5,000.00 | |
Net cash flow from Operating Activities | 5,000.00 | |
Cash fllow from investing Activities | ||
Cash from Sale of Land | 9,400.00 | |
Cash Paid to Purchase Land | - 7,700.00 | |
Net Cash flow from Investing Activities | 1,700.00 | |
Cash flows from Financing Activities | ||
Cash Receipt from Stock Issue | 37,000.00 | |
Cash Receipt from loan | 9,400.00 | |
Cash Payment on loan | - 3,700.00 | |
Cash Payments for Dividends | - 1,700.00 | |
Net cash flow from Finanncing Activities | 41,000.00 | |
Net increase in cash | 47,700.00 | |
plus:Beginning Cash Balance | 9,700.00 | |
Ending Cash Balance | 57,400.00 |
All-Star Automotive Company experienced the following accounting events during 2018: 1. Performed services for $14,700 cash....
All-Star Automotive Company experienced the following accounting events during Year 2: 1. Performed services for $25,000 cash. 2. Purchased land for $6,000 cash. 3. Hired an accountant to keep the books. 4. Received $50,000 cash from the issue of common stock 5. Borrowed $5,000 cash from State Bank 6. Paid $14,000 cash for salary expense. 7. Sold land for $9.000 cash. 8. Paid $2,000 cash on the loan from State Bank 9. Paid $2,800 cash for utilities expense. 10. Paid...
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