Seascape Marina,Inc $\$ 25,000$ Cash in the Business $\$ 1,200$
C Purchased Office Equipment

question 8

Essay

Seascape Marina,Inc.had the following transactions during May of the current year.
Required:
Classify each transaction as an operating,investing,or financing activity and prepare a statement of cash flows.
a. Invested $\$ 25,000$ cash in the business.
b. Paid office rent, $\$ 1,200$ .
c. Purchased office equipment. Paid $\$ 4,500$ in cash and agreed to pay the balance in six monthly installments.
d. Paid cash for advertising in Seaview magazine, $\$ 900$ .
e. Received cash for six research assignments, $\$ 3,600$ .
f. Paid telephone bill, $\$ 240$ .
g. Made payment on loan from transaction (c), $\$ 800$ .
h. Withdrew cash for personal use, $\$ 1,800$ .
i. Paid wages to office assistant, $\$ 600$ .