The following transactions pertain to the operations of Ewing Company for Year 1: Acquired $22, 300 cash from the issue of common stock. Provided $19, 100 of services on account. Paid $14.400 cash on accounts payable. Performed services for $40, 500 cash. Collected $5, 650 cash from accounts receivable. Incurred $7,600 of operating expenses on account. Paid $24,000 cash for one year's rent in advance. Paid $7,200 cash dividend to the stockholders. Paid $2,000 cash for supplies to be used in the future. Recognized $34.500 of accrued salaries expense. Required: Classify the cash flows from these transactions as operating activities (OA). investing activities (IA), or financing activities (FA). Prepare a statement of cash flows. (There is no beginning cash balance.)

The following transactions pertain to the operations of Ewing Company for Year 1: Acquired $22, 300 cash from the issue of common stock. Provided $19, 100 of services on account. Paid $14.400 cash on accounts payable. Performed services for $40, 500 cash. Collected $5, 650 cash from accounts receivable. Incurred $7,600 of operating expenses on account. Paid $24,000 cash for one year's rent in advance. Paid $7,200 cash dividend to the stockholders. Paid $2,000 cash for supplies to be used in the future. Recognized $34.500 of accrued salaries expense. Required: Classify the cash flows from these transactions as operating activities (OA). investing activities (IA), or financing activities (FA). Prepare a statement of cash flows. (There is no beginning cash balance.)

Name: The following transactions pertain to the operations of Ewing Company
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Description: The following transactions pertain to the operations of Ewing Company for Year 1: Acquired $22, 300 cash from the issue of common stock. Provided $19, 100 of services on account. Paid $14, 400 cash on accountspayable. Performed services for $40, 500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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