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I need help with the blanks I left empty Below are several transactions for Meyers Corporation for 2018 a. Issue common stock for cash, $50,000
I need help with the blanks I left empty
Below are several transactions for Meyers Corporation for 2018 a. Issue common stock for cash, $50,000 b. Purchase building and land with cash, $35,000 C. Provide services to customers on account, $7,000 d. Pay utilities on building, $1,000 e. Collect $5,000 on account from customers f. Pay employee salaries, $9,000 g. Pay dividends to stockholders, $4,000 Required 1. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Meyers should classify it as operating investing, or financing in a statement of cash flows. (Enter NIA if the question is not applicable to the statement. List cash outflows as negative amounts.) Operating,Investing or Financing Transaction Cash Flows Issue common stock for cash Purchase building and land with caslh Provide services to customers on account. Pay utilities on building Collect cash from customer on account. Pay employee salaries Pay dividends to stockholders 50,000 Financing Investing Financing Operating 5,000 Operating Operating nancing 2. Calculate net cash flows for the year. (List cash outflows as negative amounts.) Issue common stock for cash $50,000 Purchase building and land with cash Pay utilities on building Collect cash from customers on account Pay employee salaries Pay dividends to stockholders (1,000) 5,000 (9,000) (4,000) $41,000 Net cash flows for the year 3. Assuming the balance of cash on January 1, 2018, equals $4,400, calculate the balance of cash on December 31, 2018. Cash balanceStep by Step Solution
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