Instructions x Seth Feye established Reliance Financial Services on July 1, 2042. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets + Owners Equity Liabilities + Fees Cash + Accounts Receivable Supplies Accounts Payable + Seth Feye, Capital - Seth Feye, Drawing - Rent - - Auto Expense Expense Salaries Expense Earned - Misc. Expense Supplies Expense a +50.000 +50,000 b. +7,000 +7,000 Bal. 50.000 7,000 7,000 50,000 C. -3,600 -3,600 Bal. 46,400 7,000 3,400 50,000 d. +110,000 +110,000 Bal. 156,400 7,000 3,400 50,000 110,000 e. -33,000 -33,000 Bal. 123,400 7,000 3,400 50,000 110,000 -33,000 f. -20,800 -16,000 -4,800 Bal. 102,600 7,000 3,400 50,000 110,000 -33,000 -16.000 -4,800 g. -55,000 -55,000 Bal. 47,600 7,000 3,400 50,000 110,000 -55,000 -33,000 -16,000 -4,800 h. h -4,500 -4,500 Bal. 47,600 2.500 3,400 50,000 110,000 -55,000 -33,000 -16.000 -4,500 4.800 i. +34,500 +34,500 Bal. 47,600 34,500 2,500 3,400 50,000 144,500 -55,000 -33,000 -16.000 -4.500 -4,800 J. -15,000 - 15,000 Bal. 32,600 34,500 2,500 3,400 50,000 - 15,000 144,500 -55,000 -33,000 - 16,000 4,500 -4.800 Labels and Amount Descriptions Labels Cash flows from (used for) operating activities Cash flows from (used for) investing activities Cash flows from (used for) financing activities Expenses For the Month Ended July 31, 20Y2 July 31, 20Y2 Amount Descriptions Cash balance, July 1, 20Y2 Cash balance, July 31, 20Y2 Cash paid for expenses and to creditors Cash payments for purchase of land Cash received from customers Cash received from owner as investment Cash withdrawal by owner Decrease in owner's equity Increase in owner's equity Investment on July 1, 20Y2 Net cash flows from financing activities Net cash flows from investing activities Net cash flows from operating activities Net cash flows used for financing activities Net cash flows used for investing activities Net cash flows used for operating activities Net decrease in cash and July 31, 20Y2, cash balance Net income Net decrease in cash Net increase in cash Net loss Seth Feye, capital Seth Feye, capital, July 1, 20Y2 Seth Feye, capital, July 31, 20Y2 Total assets Total expenses Total liabilities and owner's equity Withdrawals Statement of Cash Flows 4. Prepare a statement of cash flows for the month ending July 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts that represent cash outflows as negative numbers using a minus sign. If an amount is zero, enter "O". Reliance Financial Services Statement of Cash Flows For the Month Ended July 31, 20Y2 4 1 Cash flows from (used for operating activities: Cash received from customers Cash paid for expenses and to creditors Net cash flows from operating activities 5 Cash flows from (used for) investing activities: 6 Cash flows from (used for) financing activities: 7 Cash received from owner as investment Cash withdrawal by owner Net cash flows used for financing activities 9 10 11 Cash balance, July 1, 20Y2 12 Cash balance, July 31, 20Y2