Exercise $4-15($Algo$)$ Calculate net cash flows $($L$04-7)$

Below are several transactions for Bluebeard Corporation for $2024.$

a$.$ Issue common stock for cash, $$40,000.$

b$.$ Purchase building and land with cash, $$25,000.$

c$.$ Provide services to customers on account, $$6,000.$

d$.$ Pay utilities on building, $$500.$

e$.$ Collect $$4,000$ on account from customers.

f$.$ Pay employee salaries, $$8,000.$

g$.$ Pay dividends to stockholders, $$3,000.$

Required:

$1.$&$2.$ For each transaction, determine the amount of cash flows. If cash is irivolved 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 $$3,400,$ calculate the balance of cash on December $31,2024.$

Req $1$ and $2$

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. $($Enter N$/$A if the question is not applicable to the statement. List cash outflows as negative amounts.$)$

$\backslash$table$[[$Transaction$,$Cash Flows,$\backslash$table$[[$Operating$,$ Investing$],[$or Financing$]]],[$Issue common stock for cash, $$40,000.,,],[$Purchase building and land with cash, $$25,000.,,],[$Provide services to customers on account, $$6,000.,,],[$Pay utilities on building, $$500.,,],[$Collect $$4,000$ on account from customers.,,$],[$Pay employee salaries, $$8,000.,,],[$Pay dividends to stockholders $$3,000.,,],[$Net cash flows for the year,,$]]$

Req $1$ and $2$

$1.$&$2.$ For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether Bluebec 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 $$3,400,$ calculate the balance of cash on December $31,2024.$

Complete this question by entering your answers in the tabs below.

Req $1$ and $2$

Req $3$

Assuming the balance of cash on January $1,2024,$ equals $$3,400,$ calculate the balance of cash on December $31,2024.$

Cash balance