The following transactions apply to Brunswick Corporation.
a) Issued common stock for $35,000 cash.
b) Provided services to customers for $18,000 on account.
c) Purchased land for $18,000 cash.
d) Purchased $500 of supplies on account.
e) Paid $9,000 for operating expenses.
f) Paid $450 on accounts payable.
g) Collected $15,000 cash from customers.
h) Accrued $400 of salary expense at year end.
i) Paid $2,500 dividends to stockholders.
Required:
a) Identify the effect on the statement of cash flows for each of the above transactions.
b) Classify the above accounting events into one of four types of transactions (asset source, asset use, asset exchange, claims exchange).

Question

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The Answer of The following transactions apply to Brunswick Corporation.
a) Issued common stock for $35,000 cash.
b) Provided services to customers for $18,000 on account.
c) Purchased land for $18,000 cash.
d) Purchased $500 of supplies on account.
e) Paid $9,000 for operating expenses.
f) Paid $450 on accounts payable.
g) Collected $15,000 cash from customers.
h) Accrued $400 of salary expense at year end.
i) Paid $2,500 dividends to stockholders.
Required:
a) Identify the effect on the statement of cash flows for each of the above transactions.
b) Classify the above accounting events into one of four types of transactions (asset source, asset use, asset exchange, claims exchange).

The Following Transactions Apply to Brunswick Corporation