Question

The following summary transactions occurred during 2013 for Bluebonnet Bakers:
Cash Received from:
Customers....................$380,000
Interest on note receivable .............6,000
Principal on note receivable ............50,000
Sale of investments ...................30,000
Proceeds from note payable ............100,000
Cash Paid for:
Purchase of inventory ................160,000
Interest on note payable ................5,000
Purchase of equipment ..............85,000
Salaries to employees ................90,000
Principal on note payable .............25,000
Payment of dividends to shareholders ........20,000
The balance of cash and cash equivalents at the beginning of 2013 was $17,000.
Required:
Prepare a statement of cash flows for 2013 for Bluebonnet Bakers. Use the direct method for reporting operating activities.



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  • CreatedDecember 23, 2013
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