Below are several transactions for Bluebeard Corporation for 2024 a Issue common stock for cash, $49,000. b. Purchase building and land with cash, $34,000 c Provide services to customers on account, $6,900 d. Pay utilities on building. $950 e Collect $4,900 on account from customers. f Pay employee salaries, $8,900. g Pay dividends to stockholders, $3,900. Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year 3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Below are several transactions for Bluebeard Corporation for 2024
a. Issue common stock for cash, $49,000.
b. Purchase building and land with cash, $34,000.
c. Provide services to customers on account, $6,900.
d. Pay utilities on building, $950.
e. Collect $4,900 on account from customers.
of Pay employee salaries, $8,900.
g. Pay dividends to stockholders, $3,900.
Required:
1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard
should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year.
3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024
Complete this question by entering your answers in the tabs below.
Req 1 and 2
Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024.
Cash balance
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Transcribed Image Text:Below are several transactions for Bluebeard Corporation for 2024 a. Issue common stock for cash, $49,000. b. Purchase building and land with cash, $34,000. c. Provide services to customers on account, $6,900. d. Pay utilities on building, $950. e. Collect $4,900 on account from customers. of Pay employee salaries, $8,900. g. Pay dividends to stockholders, $3,900. Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. 3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024 Complete this question by entering your answers in the tabs below. Req 1 and 2 Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024. Cash balance e to search F2 @ 2 Req 3 W F3 #m 3 E Et F4 < Req 1 and 2 $ 4 F5 C R F e % 5 F6 Req 3 > < Prev 玉 T DELL F7 < 6 5 of 10 G ‒‒‒ T F8 Y 00 & 7 H Next > F9 a * 00 U 8 Desktop F10 J | 9
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Homework
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ar Nam... ball polisll (77) 5 [4/4] Movie - Ashab... 2 109 Fredonia St, Sa... 2142 Sargent St, San... 142 Sargent St, San...
Below are several transactions for Bluebeard Corporation for 2024.
a. Issue common stock for cash, $49,000.
b. Purchase building and land with cash, $34,000.
c. Provide services to customers on account, $6,900.
Question 5 - Chapter 4 Homewo X
d. Pay utilities on building, $950.
e. Collect $4,900 on account from customers.
f. Pay employee salaries, $8,900.
g. Pay dividends to stockholders, $3,900.
Req 1 and 2
Complete this question by entering your answers in the tabs below.
ere to search
Required:
1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard
should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year.
3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024.
F2
Req 3
lerun common stock for cach $40.000
F3
For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard
should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year.
(Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.)
Transaction
Activity Stream
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F5
11
Cash Flows
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Saved
Operating, Investing
or Financing
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DOLL
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F8
Next >
F9
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Desktop
F10
F1
Transcribed Image Text:du Homework X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Ftamusa blackbo ar Nam... ball polisll (77) 5 [4/4] Movie - Ashab... 2 109 Fredonia St, Sa... 2142 Sargent St, San... 142 Sargent St, San... Below are several transactions for Bluebeard Corporation for 2024. a. Issue common stock for cash, $49,000. b. Purchase building and land with cash, $34,000. c. Provide services to customers on account, $6,900. Question 5 - Chapter 4 Homewo X d. Pay utilities on building, $950. e. Collect $4,900 on account from customers. f. Pay employee salaries, $8,900. g. Pay dividends to stockholders, $3,900. Req 1 and 2 Complete this question by entering your answers in the tabs below. ere to search Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. 3. Assuming the balance of cash on January 1, 2024, equals $4,300, calculate the balance of cash on December 31, 2024. F2 Req 3 lerun common stock for cach $40.000 F3 For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebeard should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. (Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.) Transaction Activity Stream Et F4 K F5 11 Cash Flows e F6 ▶ Saved Operating, Investing or Financing < Prex F7 X 5 of 10 DOLL + F8 Next > F9 a Desktop F10 F1
Expert Solution
Step 1

The cash flows of the company are divided into three types of activities like financing, operating, and investing. The operating cash flow generally includes cash flows from day-to-day operations. The cash inflows increase the cash balance.

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