Question: nework ( i Help SP 1 2 Serial Problem Business Solutions ( Indirect ) ( Static ) LO P 2 , P 3 Santana Rey,

nework (i
Help
SP 12 Serial Problem Business Solutions (Indirect)(Static) LO P2, P3
Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data.
\table[[\table[[BUSINESS SOLUTIONS],[Income Statement For Three Months Ended March 31,2022]]],[],[Computer services revenue,,$ 25,307],[Net sales,,18,693],[Total revenue,,44,000],[Cost of goods sold,$ 14,052,],[Depreciation expense-Office equipment,400,],[Depreciation expense-Computer equipment,1,250,],[Wages expense,3,250,],[Insurance expense,555,],[Rent expense,2,475,],[Computer supplies expense,1,305,],[Advertising expense,600,],[Mileage expense,320,],[Repairs expense-Computer,960,],[Total expenses,,25,167],[Net income,,$ 18,833],[BUSINESS SOLUTIONS Comparative Balance Sheets]]Net income
$ 18,833
\table[[BUSINESS SOLUTIONS Comparative Balance Sheets],[Assets,March 31,2022,Decenber 31,2021],[Cash,$ 68,057,],[Accounts receivable,22,867,$ 48,372],[Inventory,704,-],[Computer supplies,2,0e5,580],[Prepaid Insurance,1,110,1,665],[Prepaid rent,825,825],[Total current assets,95,568,57,110],[Office equipment,8,000,8,000],[Accumulated depreciation-office equipnent,(8ee),(400)],[Computer equipment,20,60e,20,eec],[Accumulated depreciation-Conputer equipment,(2,500),(1,250)
nework ( i Help SP 1 2 Serial Problem Business

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!