Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following to answer questions 26 - 32 Below is a summary of all transactions of KEV Consulting for the month of October. Cash

image text in transcribed
Use the following to answer questions 26 - 32 Below is a summary of all transactions of KEV Consulting for the month of October. Cash transactions Cash collections from: Sale of unused office furniture $15,000 Borrowing from bank 100,000 Customers 850,000 Cash payments for: Employee salaries 500,000 Dividends to stockholders 100,000 Advertising expense 225.000 Utilities expense 18,000 Purchased office equipment 80,000 Office supplies 2,500 Noncash Transactions Issue note payable for equipment $300,000 Services to customers on account 45,000 Purchase office equipment on account 25,000 Prepare a statement of cash flows for the month of October, properly classifying each of the transactions into operating, investing, and financing activities. The cash balance at the beginning of October is $25,000. 26. $ What is the amount of cash inflows from operating activities? 27 $ 28. $ 29. S 30.5 What is the amount of cash outflows from operating activities? What is the Net Cash Flows from Operating Activities (if cash used, use "-")? What is the NetCash Flows from Investing Activities (if cash used, use ***)? What is the Net Cash Flows from Financing Activities (if cash used, use "-"y? How much did cash change (if decrease, use -) What is the ending cash balance for the company? 31. S 32.5 Chapter 4 Page 4-1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Marketing

Authors: Bruno Camus

1st Edition

2708108735, 978-2708108738

More Books

Students also viewed these Accounting questions

Question

2. Identify the purpose of your speech

Answered: 1 week ago