Below are several transactions for Meyers Corporation for
Issue common stock for cash, $
Purchase building and land with cash, $
Provide services to customers on account, $
Pay utilities on building, $
Collect $ on account from customers.
Pay employee salaries, $
Pay dividends to stockholders, $
Required:
& For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Meyers should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year.
Assuming the balance of cash on January equals $ calculate the balance of cash on December
