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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
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 Borrowing from bank Customers $70,000 300,000 700,000 Cash payments for: Employee salaries 400,000 Dividends to stockholders 100,000 Advertising expense 125,000 Utilities expense 30,000 Purchased office equipment 50,000 Office supplies 3,000 Noncash Transactions Issue note payable for equipment $350,000 Services to customers on account 125,000 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 $50,000. 26. $ 27. $ What is the amount of cash inflows from operating activities? What is the amount of cash outflows from operating activities? 28. $ 29. $ 30. $ 31. $ 32. $ What is the Net Cash Flows from Operating Activities (if cash used, use "-")? What is the Net Cash Flows from Investing Activities (if cash used, use "-")? What is the Net Cash Flows from Financing Activities (if cash used, use "-")? How much did cash change (if decrease, use "-") What is the ending cash balance for the company?
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