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Below are several transactions for Meyers Corporation for 2021. a. Issue common stock for cash, $59,000. b. Purchase building and land with cash, $44,000.
Below are several transactions for Meyers Corporation for 2021. a. Issue common stock for cash, $59,000. b. Purchase building and land with cash, $44,000. c. Provide services to customers on account, $7,900. d. Pay utilities on building, $1,450. e. Collect $5,900 on account from customers. f. Pay employee salaries, $9,900. g. Pay dividends to stockholders, $4,900. Required: 1. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whe should classify it as operating, investing, or financing in a statement of cash flows. (Enter N/A if the question applicable to the statement. List cash outflows as negative amounts.) Operating, Investing Transaction Cash Flows or Financing Issue common stock for cash. $ 59,000 Financing Purchase building and land with cash. $ (44,000) Investing Provide services to customers on account. S N/A Pay utilities on building. $ (1,450) Operating Collect cash from customer on account. $ 59,000 Operating Pay employee salaries. Pay dividends to stockholders SS $ (9,000) ( Operating $ (4,900) Financing
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