RESPOND ASAPPP

8) Fitness Co. offers personal training services to individuals. After all the accounts have been closed on June 30, 20Y7,

the end of the fiscal year, the balances of selected accounts from the ledger of Fitness Co. are as follows:

Accounts Payable

$10.000

Accounts Receivable

20,000

Accumulated Depreciation - Equipment

28.000

Common Stock

Cash

Equipment

Land

Prepaid Insurance

Prepaid Rent

Retained Earnings

Salaries Payable

Supplies

Unearned Fees

180.000

?

82.000

110.000

5.000

3,000

10,000

4,000

1.000

3,000

10

Prepare a classified balance sheet that includes the correct balance for Cash.

9) Indicate whether each of the following activities would be reported on the statement of cash flows as (a) an

operating activity, (b) an investing activity, or (c) a financing activity.

1. Cash received by issuing common stock.

2. Cash received for fees earned from customers.

3. Cash paid for land and building.

4. Cash paid for dividends.