The following events apply to Paradise Vacations’s first year of operations: 1. Acquired $24,000 cash from the issue of common stock on January 1, Year 1. 2. Purchased $1,000 of supplies on account. 3. Paid $4,680 cash in advance for a one-year lease on office space. 4. Earned $32,350 of revenue on account. 5. Incurred $13,100 of other operating expenses on account. 6. Collected $26,000 cash from accounts receivable. 7. Paid $9,200 cash on accounts payable. 8. Paid a $3,400 cash dividend to the stockholders. Information for Adjusting Entries 9. There was $190 of supplies on hand at the end of the accounting period. 10. The lease on the office space covered a one-year period beginning November 1. 11. There was $4,000 of accrued salaries at the end of the period. Required: Prepare a statement of cash flows Complete this question by entering your answers in the tabs below. First Column, Rows 2-4 & 8-10 Answer Options: - Inflow from customers - Inflow from stock issue - Outflow for dividends - Outflow for expenses - Outflow for inventory First Column, Row 13 Answer Options: - Add: Beginning cash balance - Less: Beginning cash balance
The following events apply to Paradise Vacations’s first year of operations:
1. Acquired $24,000 cash from the issue of common stock on January 1, Year 1.
2. Purchased $1,000 of supplies on account.
3. Paid $4,680 cash in advance for a one-year lease on office space.
4. Earned $32,350 of revenue on account.
5. Incurred $13,100 of other operating expenses on account.
6. Collected $26,000 cash from
7. Paid $9,200 cash on accounts payable.
8. Paid a $3,400 cash dividend to the stockholders.
Information for
9. There was $190 of supplies on hand at the end of the accounting period.
10. The lease on the office space covered a one-year period beginning November 1.
11. There was $4,000 of accrued salaries at the end of the period.
Required:
Prepare a statement of
Complete this question by entering your answers in the tabs below.
First Column, Rows 2-4 & 8-10 Answer Options:
- Inflow from customers
- Inflow from stock issue
- Outflow for dividends
- Outflow for expenses
- Outflow for inventory
First Column, Row 13 Answer Options:
- Add: Beginning cash balance
- Less: Beginning cash balance
![Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.)
PARADISE VACATIONS
Statement of Cash Flows
For the Year ended December 31, Year 1
Cash flows from operating activities
Net cash flow from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net cash flow from financing activities
Net change in cash
Ending cash balance
$
EA
69
0
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e2eaa08-d375-42a6-910e-8f4f7ca5d7e7%2F34bddd70-9c5b-45d0-afd7-a68bab5a4c3e%2Fpu9bevr_processed.png&w=3840&q=75)
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