Indicate the effect of each transaction during the month of October 2016 and the balances for the accounting equation after all transactions have been recorded. No beginning balances exist in the accounts. An accounting equation has been provided.

1. Opened a business bank account for Jones, Inc., with an initial deposit of $45,000 in exchange for common stock.
2. Paid rent on the office building for the month, $2,000.
3. Received cash for fees earned of $5,000.
4. Purchased equipment, $7,000.
5. Borrowed $20,000 by issuing a note payable.
6. Paid salaries for the month, $1,000.
7. Received cash for fees earned of $8,000.
8. Paid dividends, $3,000.
9. Paid interest on the note, $100.

Part B

Using the information from Part A, prepare a statement of cash flows for the month of October.

Jones, Inc.Statement of Cash Flows For the Month Ended October 31, 2016Cash flows from operating activities:

Cash receipts from operating activities ?

Net cash flows from operating activities ?

Cash receipts from issuing common stock ?

Cash receipts from note payable ?

Net cash flows from financing activities ?

Cash as of October 31, 2016 ?