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fill out chart 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
fill out chart
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 salaries 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 a cash dividend of $5,000 to the stockholders. saved Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $9,000. (Cash should be indicated with a minus sign.) ALL-STAR AUTOMOTIVE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: $ 0 Net cash flow from operating activities Cash flows from investing activities: $ 0 Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities 0 Ending cash balance $ 0 Step by Step Solution
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