Homework Answers
| Event | Classification |
| 1 | OA |
| 2 | IA |
| 3 | OA |
| 4 | FA |
| 5 | FA |
| 6 | OA |
| 7 | IA |
| 8 | FA |
| 9 | OA |
| 10 | FA |
| ALL STAR AUTOMOTIVE COMPANY |
| Statement of cash flows |
| For the year ended Dec,year 2 |
| Particular | Amount | Amount |
|
cash flow from operating Activities |
||
| Performed service for cash | 25,000 | |
| Paid salary expense | -14,000 | |
| Paid utilities expense | -2,800 | |
|
Net cash flow from Operating activities |
$8200 |
$8,200 |
|
cash flow from investing activities |
||
| Purchase land | -6,000 | |
| Sold land | 9,000 | |
|
Net cash flow from Investing activities |
$3000 |
$3,000 |
|
cash flow from Financing activities |
||
| Issue of common stock | 50,000 | |
| Borrowed from bank | 5,000 | |
| Paid loan to state bank | -2,000 | |
| Paid cash dividend | -5,000 | |
|
Net cash flow From financing activities |
$48000 |
$48000 |
|
Net cash flow during the year |
$59,200 |
|
| Add Opening balance of cash | $9000 | |
| Ending Cash balance | $68,200 |
Note: hired accountaccountant to keep the books (Amount is not mention so not consider in cash flows statement.
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