Post transaction to the cash t-account and the statement of cash flows

HOMEWARD BOUND Statement of Cash Flows For the Month Ended June 30 \begin{tabular}{|l|r|r|} \hline Cash Flows from Operating Activities & & \\ \hline Cash inflows: & & \\ \hline From customers & & \\ \hline & & \\ \hline & & \\ \hline Cash outflows: & (3,100) & \\ \hline For utilities & (1,500) & \\ \hline For rent & (6,300) & \\ \hline For salaries & & \\ \hline & & \\ \hline & & $ \\ \hline Net cash flows from operating activities & (3,900) \\ \hline Cash Flows from Investing Activities & & \\ \hline Purchase equipment & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from investing activities & & \\ \hline Cash Flows from Financing Activities & & \\ \hline Borrow from bank & & \\ \hline Pay dividends & (1,200) \\ \hline & & \\ \hline \end{tabular} Problem 4-5B (Algo) Record transactions, post to the Cash T-account, and prepare the statement of cash flows (LO4-7) Peter loves dogs and cats. For the past several years, he has owned and operated Homeward Bound, which temporarily houses pets while their owners go on vacation. For the month of June, the company has the following transactions: 1. June 02 obtain cash by borrowing $21,000 fron the bank by signing a note. 2. June 83 Pay rent for the current month, $1,500. 3. June 07 Provide services to customers, $5,600 for cash and $3,300 on account. 4. June 11 Purchase cages and equipment necessary to maintain the aninats, $8,200 cash. 5. June 17 Pay employees' salaries for the first half of the month, $6,300. 6. June 22 Pay dividends to stockhotders, $1,500. 7. June 25 Receive cash in advance from a customer who wants to house his two dogs (Chance and 5 hadow) and cat (Sassy) while he goes on vacation the month of July, $2,000. 8. June 28 Pay utilities for the month, $3,100. 9. June 30 Record salaries earned by enployees for the second half of the month, $6,300. Payment will be made on Juty 2. Required: 1. Record each transaction. 2. Identify the transactions involving cash. 3. Assuming the balance of cash at the beginning of June is $14,500, post each cash transaction to the Cash T-account. 4. Prepare a statement of cash flows for the month of June, properly classifying each of the cash transactions into operating. investing. and financing activities. Assume that the balance of cash at the beginning of June is $14,500. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Assuming the balance of cash at the beginning of June is $14,500, post each cash transaction to the Cash T-account. \begin{tabular}{|c|c|c|c|} \hline For rent & (1,500) & & \\ \hline For salaries & (6,300) & & \\ \hline \multicolumn{4}{|l|}{+} \\ \hline Net cash flows from operating activities & & $ & (3,900) \\ \hline \multicolumn{4}{|l|}{ Cash Flows from Investing Activities } \\ \hline Purchase equipment & (8,200) & & \\ \hline \\ \hline Net cash flows from investing activities & & & (8,200) \\ \hline Cash Flows from Financing Activities & & & . \\ \hline Borrow from bank & 21,000 & & \\ \hline Pay dividends & (1,500) & & \\ \hline \\ \hline Net cash flows from financing activities & & & 19,500 \\ \hline \multicolumn{4}{|l|}{ Net increase in cash } \\ \hline \multicolumn{4}{|l|}{ Cash at the beginning of the month } \\ \hline Cash at the end of the month & & $ & 0 \\ \hline \end{tabular} Required 3 Required \&