27 The following transactions occurred during March 2021 for the Wawright Corporation. The company owns and operates a wholesale warehouse 6 point 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash Purchased equipment at a cost of $40,000 $10,000 cash was paid and a note payable to the 2 solier was signed for the balance owed 3 Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000 5. Paid $5,000 rent on the warehouse building for the month of March 6. Paid $6.000 10 an insurance company for fire and ability insurance for a one-year period beginning April 1, 2021 7. Paid $70,000 on account for the merchandise purchased in 3 8. Collected $55,000 from customers on account. 9. Recorded depreciation expense of $1,000 for the month on the equipment eBook Required: 1. Analyze each transaction by indicating the cash effect and classify each as a financing mesting and/or operating activity (a transaction can represent more than one type of activity 2. Prepare a statement of cash flows, using the direct method to present cash flows from operating activities Assume the cash balance at the beginning of the month was $40.000 Complete this question by entering your answers in the tabs below. Required Required 1 Analyze each transaction by indicating the cash effect and classify each as a financing investing, and/or operating activity (a transaction can represent more than one type of activity). (Amounts to be deducted should be indicated with a minus sign. If there is no cash effect, leave cell blank.) Show less Operating Investing Financing 15 Os CS300000 2 210.000) 13 90,000 0 30,000 ol 6. (5000) of $5,000) 0 ol 70 000) (70.0001 55000 9 114000 (80.000) 3300000 Mare Required 2 > 4 7 B. 27 The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 6 pois 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash. 2 Purchased equipment at a cost of $40,000 $10,000 cash was paid and a note payable to the seler was signed for the balance owed 3. Purchased Inventory on account at a cost of $90,000 The company uses the perpetual Inventory system 4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000 5. Paid $5,000 in rest on the warehouse building for the month of March 6 Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021 7. Paid $70,000 on account for the merchandise purchased in 3 8. Colected $55,000 from customers on account 9. Recorded depreciation expense of $1,000 for the month on the equipment eBook Required: 1. Analyze each transaction by indicating the cash effect and classity each as a financing, nesting, andior operating activity la transaction can represent more than one type of activity 2. Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was $40,000 Complete this question by entering your answers in the tabs below. Required Required 1 Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was 540,000 (Amounts to be deducted should be indicated with a minus sign) Show less WAINWRIGHT CORPORATION Statement of Cash Flows For the Month Ended March 31, 2021 Cashflows from operating activities Not cash orom operating active Cashflows from investing activities $ 0 Net cash flows from ting activities Chows from Francis ol tas now from anong actes Not increase in cash Cash and cash guants. Mach 1 Chand cathet, March 31 3 Nocas vesting and faranga Castomer chpad Note