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ACC305 Wk 2 E4-19 - Wainwright Corporation


ACC305 Wk 2 E4-19 - Wainwright Corporation fin571

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ACC305 Wk 2 E4-19 - Wainwright Corporation
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This 0 page Study Guide was uploaded by an elite notetaker on Monday November 9, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 23 views.


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Date Created: 11/09/15
E419 Wainwright Corporation ACC305 Intermediate Accounting l Ashford University Required 1Analyze each transaction and classify each as a nancing investing andor operating activity a transaction can represent more than one type of activity In doing so also indicate the cash effect of each if any If there is no cash effect simply place a check mark in the appropriate columns 2Prepare a statement of cash ows using the direct method to present cash ows from operating activities Assume the cash balance at the beginning of the month was 40000 Exercise 419 Requirement 1 Financing Investing Operating 1 300000 2 10000 3 J 4 V 5 5000 6 6000 7 70000 8 55000 9 300000 10000 26000 264000 Requirement 2 Wainwright Corporation Statement of Cash Flows For the Month Ended March 31 2011 Cash ows from operating activities Collections from customers 55000 Payment of rent 5000 Payment of oneyear insurance premium 6000 Payment to suppliers of merchandise for sale 70000 Net cash ows from operating activities 26000 Cash ows from in vesting activities Purchase of equipment 10000 Net cash ows from investing activities 10000 Cash ows from nancing activities Issuance of common stock 300000 Net cash ows from nancing activities 300 000 Net increase in cash 264000 Cash and cash equivalents March 1 40000 Cash and cash equivalents March 31 304000 Noncash in vesting and nancing activities Acquired 40000 of equipment by paying cash and issuing a note as follows Cost of equipment 40000 Cash paid 10000 Note issued 30000


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