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Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow: Item Cash
Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow:
Item | Cash | + | Accounts Receivable | + | Supplies | = | Accounts Payable | + | Common Stock | - | Dividends | + | Fees Earned | - | Salaries Expense | - | Rent Expense | - | Auto Expense | - | Supplies Expense | - | Miscellaneous Expense |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
a. | +26,860 | +26,860 | |||||||||||||||||||||
b. | +2,340 | +2,340 | |||||||||||||||||||||
Bal. | 26,860 | 2,340 | 2,340 | 26,860 | |||||||||||||||||||
c. | +26,320 | +26,320 | |||||||||||||||||||||
Bal. | 53,180 | 2,340 | 2,340 | 26,860 | 26,320 | ||||||||||||||||||
d. | -7,300 | -7,300 | |||||||||||||||||||||
Bal. | 45,880 | 2,340 | 2,340 | 26,860 | 26,320 | -7,300 | |||||||||||||||||
e. | -1,130 | -1,130 | |||||||||||||||||||||
Bal. | 44,750 | 2,340 | 1,210 | 26,860 | 26,320 | -7,300 | |||||||||||||||||
f. | +18,500 | +18,500 | |||||||||||||||||||||
Bal. | 44,750 | 18,500 | 2,340 | 1,210 | 26,860 | 44,820 | -7,300 | ||||||||||||||||
g. | -5,100 | -3,490 | -1,610 | ||||||||||||||||||||
Bal. | 39,650 | 18,500 | 2,340 | 1,210 | 26,860 | 44,820 | -7,300 | -3,490 | -1,610 | ||||||||||||||
h. | -10,700 | -10,700 | |||||||||||||||||||||
Bal. | 28,950 | 18,500 | 2,340 | 1,210 | 26,860 | 44,820 | -10,700 | -7,300 | -3,490 | -1,610 | |||||||||||||
i. | -1,300 | -1,300 | |||||||||||||||||||||
Bal. | 28,950 | 18,500 | 1,040 | 1,210 | 26,860 | 44,820 | -10,700 | -7,300 | -3,490 | -1,300 | -1,610 | ||||||||||||
j. | -6,700 | -6,700 | |||||||||||||||||||||
Bal. | 22,250 | 18,500 | 1,040 | 1,210 | 26,860 | -6,700 | 44,820 | -10,700 | -7,300 | -3,490 | -1,300 | -1,610 |
4. Prepare a statement of cash flows for the month ending August 31, 20Y1. If an amount box does not require an entry, leave it blank. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash.
Line Item Description | Amount | Amount |
---|---|---|
Cash flows from (used for) operating activities: | ||
Cash paid for dividendsCash paid for purchase of landCash received from customersCash received from issuing additional common stockCash received from customers | $Cash received from customers | |
Cash received from issuing additional common stockCash paid for purchase of landCash paid for dividendsCash paid for expenses and to creditorsCash paid for expenses and to creditors | Cash paid for expenses and to creditors | |
Net cash flows from operating activitiesNet cash flows used for operating activitiesNet cash flows from operating activities | $Net cash flows from operating activities | |
Cash flows from (used for) investing activities: | Cash flows from (used for) investing activities: | |
Cash flows from (used for) financing activities: | ||
Cash paid for expenses and to creditorsCash paid for purchase of landCash received from customersCash received from issuing common stockCash received from issuing common stock | $Cash received from issuing common stock | |
Cash paid for dividendsCash paid for expenses and to creditorsCash paid for purchase of landCash received from customersCash paid for dividends | Cash paid for dividends | |
Net cash flows from financing activitiesNet cash flows used for financing activitiesNet cash flows from financing activities | Net cash flows from financing activities | |
Net decrease in cashNet increase in cashNet increase in cash | $Net increase in cash | |
Cash balance, August 1, 20Y1Cash balance, August 31, 20Y1Cash balance, August 1, 20Y1 | blank | Cash balance, August 1, 20Y1 |
Cash balance, August 1, 20Y1Cash balance, August 31, 20Y1Cash balance, August 31, 20Y1 |
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