Question
Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture
Below is a summary of all transactions of KEV Consulting for the month of October.
Cash transactions | ||
Cash collections from: | ||
Sale of unused office furniture | $30,000 | |
Borrowing from bank | 150,000 | |
Customers | 700,000 | |
Cash payments for: | ||
Employee salaries | (342,000) | |
Dividends to stockholders | (35,000) | |
Advertising expense | (29,650) | |
Utilities expense | (14,525) | |
Office building | (430,000) | |
Office supplies | (650) | |
Noncash Transactions | ||
Issue note payable for equipment | $100,000 | |
Services to customers on account | 125,000 | |
Purchase supplies on account | 300 |
Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $21,750.
What is the amount of cash inflows from operating activities?
What is the amount of cash outflows from operating activities?
What is the Net Cash Flows from Operating Activities (if cash used, use -)?
What is the Net Cash Flows from Investing Activities (if cash used, use -)?
What is the Net Cash Flows from Financing Activities (if cash used, use -)?
How much did cash change (if decrease, use -)
What is the ending cash balance for the company?
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