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 $15,100 cash. 2. Purchased land for $8,100cash. 3. Hired an accountant to keep the books. 4. Recelved $41,000 cash from the issue of common stock. 5. Borrowed $10,200 cash from State Bank. 6. Paid $5,100 cash for salary expense. 7. Sold land for $10,200 cash. 8. Paid $4,100 cash on the loan from State Bank. 9. Paid $5,300 cash for utilities expense. o. Paid a cash dividend of $2,100 to the stockholders. Required a. Indicate how each of the events would be classifled on the statement of cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,100. Complete this question by entering your answers in the tabs below. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), Investing activities (IA), or financing activities (FA). (If the event would not appear on the statement of cash flaws, leave the cell blank.) 5. Hofrowed $10:200 cash from State tark. 6. Paid $5.100 cash for salary exponse 7. Sold land for $10,200 casht. 8. Poid $4,100 cash on the loan from 5 tste Bank. 9. Paid $5,300 cash for taities expense. O. Paid a cash cividend of $2,100 to the stockholders Bequired a. Indicate how eoch of the events would bo ciassified on the statement of cash ficws as operating activities (on), inveating activites ([A), of financiag activities (FA). b. Propare a statement of cashflows. Assume Alfsiar Avicmotive had a beginning cash balance of 510.100. Complete this question by entering your answers in the tabs below. Indicate haw each of the events would be clastified on the seasterent of cath fews as operating activities (ou) investing activities (UA), or fhancing activities (fA). (If the event would not appear en the atatarnent of cash figwi, lewin the cell hianike) Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,100. (Cash Outflow5 should be indicated with a minus sign.) 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 $15,100 cash. 2. Purchased land for $8,100cash. 3. Hired an accountant to keep the books. 4. Recelved $41,000 cash from the issue of common stock. 5. Borrowed $10,200 cash from State Bank. 6. Paid $5,100 cash for salary expense. 7. Sold land for $10,200 cash. 8. Paid $4,100 cash on the loan from State Bank. 9. Paid $5,300 cash for utilities expense. o. Paid a cash dividend of $2,100 to the stockholders. Required a. Indicate how each of the events would be classifled on the statement of cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,100. Complete this question by entering your answers in the tabs below. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), Investing activities (IA), or financing activities (FA). (If the event would not appear on the statement of cash flaws, leave the cell blank.) 5. Hofrowed $10:200 cash from State tark. 6. Paid $5.100 cash for salary exponse 7. Sold land for $10,200 casht. 8. Poid $4,100 cash on the loan from 5 tste Bank. 9. Paid $5,300 cash for taities expense. O. Paid a cash cividend of $2,100 to the stockholders Bequired a. Indicate how eoch of the events would bo ciassified on the statement of cash ficws as operating activities (on), inveating activites ([A), of financiag activities (FA). b. Propare a statement of cashflows. Assume Alfsiar Avicmotive had a beginning cash balance of 510.100. Complete this question by entering your answers in the tabs below. Indicate haw each of the events would be clastified on the seasterent of cath fews as operating activities (ou) investing activities (UA), or fhancing activities (fA). (If the event would not appear en the atatarnent of cash figwi, lewin the cell hianike) Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,100. (Cash Outflow5 should be indicated with a minus sign.)
