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please help i will like Problem: Module 1 Textbook Problem 3 Learning Objective: 1.5 Prepare a statement of cash flows All-Star Automotive Company experienced the
please help i will like
Problem: Module 1 Textbook Problem 3 Learning Objective: 1.5 Prepare a statement of cash flows All-Star Automotive Company experienced the following accounting events during Year 3: 1. Performed services for $15,000 cash. 2. Purchased land for $8,000 cash. 3. Hired an accountant to keep the books. 4. Recelved $40,000 cash from the issue of common stock. 5. Borrowed $10,000 cash from State Bank. 6. Paid $5,000 cash for salary expense. 7. Sold land for $10,000 cash. 8. Paid $4,000 cash on the loan from State Bank. 9. Paid $5.200 cash for uilitities expense. 10. Paid a cash dividend of $2,000 to the stockholders. Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing act: (IA), or financing activities (FA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,000. Complete this question by entering your answers in the tabs below. 10. Paid a cash dividend of $2,000 to the stockholders. Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing acti (IA), or financing activities (FA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,000. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,000. (Cash Outflows should be indicated with a minus sign.) Step by Step Solution
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