The following transactions pertain to the operations of Ewing Company for 2018:
ID: 2390848 • Letter: T
Question
The following transactions pertain to the operations of Ewing Company for 2018: Acquired $22,000 cash from the issue of common stock. Provided $19,250 of services on account. Paid $16,600 cash on accounts payable. Performed services for $37,000 cash. Collected $5,950 cash from accounts receivable. Incurred $9,050 of operating expenses on account. Paid a $26,400 cash for one year’s rent in advance. Paid a $8,300 cash dividend to the stockholders. Paid $1,800 cash for supplies to be used in the future. Recognized $30,900 of accrued salary expense.
Prepare a statement of cash flows. (There is no beginning cash balance.)
X C Chegg Study Guided So u l https://newconnect.mheducation.com/flow/connect.html Imported From Edge Saved minus sign.) EWING COMPANY Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing acivities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balanceExplanation / Answer
Answer
Cash Flows from Operating activities
Cash paid to Accounts payable
$ (16,600.00)
Cash received for services
$ 37,000.00
Cash collected from accounts receivables (customers)
$ 5,950.00
Cash paid for Rent
$ (26,400.00)
Cash paid for Supplies
$ (1,800.00)
Net Cash flow from Operating Activities
$ (1,850.00)
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Issuance of Common Stock
$ 22,000.00
Cash dividend paid
$ (8,300.00)
Net Cash flow from Financing activities
$ 13,700.00
Net change in Cash
$ 11,850.00
Beginning Balance Cash
$ -
Ending Cash balance
$ 11,850.00
Cash Flows from Operating activities
Cash paid to Accounts payable
$ (16,600.00)
Cash received for services
$ 37,000.00
Cash collected from accounts receivables (customers)
$ 5,950.00
Cash paid for Rent
$ (26,400.00)
Cash paid for Supplies
$ (1,800.00)
Net Cash flow from Operating Activities
$ (1,850.00)
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Issuance of Common Stock
$ 22,000.00
Cash dividend paid
$ (8,300.00)
Net Cash flow from Financing activities
$ 13,700.00
Net change in Cash
$ 11,850.00
Beginning Balance Cash
$ -
Ending Cash balance
$ 11,850.00
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