The following summary transactions occurred during 2021 for Bluebonnet Bakers: The balance of cash and cash equivalents
Question:
The following summary transactions occurred during 2021 for Bluebonnet Bakers:
The balance of cash and cash equivalents at the beginning of 2021 was $17,000.
Required:Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
Transcribed Image Text:
Cash Received from: $380,000 Collections from customers Interest on notes receivable 6,000 Collection of notes receivable 50,000 Sale of investments 30,000 Issuance of notes payable 100,000 Cash Paid for: Purchase of inventory 160,000 Interest on notes payable Purchase of equipment Salaries to employees 5,000 85,000 90,000 Payment of notes payable 25,000 Dividends to shareholders 20,000
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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