The following summary transactions occurred
during 2018 for Bluebonnet Bakers:
Cash Received from:
Cash Received from:
Customers……………………………………………………………………….$ 380,000
Interest on note receivable…………………………………………………………..6,000
Principal on note receivable…………………………………………………………50,000
Sale of investment………………………………………………………………….30,000
Proceeds from note payable………………………………………………………100,000
Interest on note receivable…………………………………………………………..6,000
Principal on note receivable…………………………………………………………50,000
Sale of investment………………………………………………………………….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 2018 was $17,000.
Required:
Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
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 2018 was $17,000.
Required:
Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
TUTORIAL PREVIEW
Bluebonnet Bakers
Statement of Cash Flows
For the Year Ended December 31, 2013
Cash flows from operating activities:
Collections from customers
|
$ 380,000
| |
Interest on note receivable
|
6,000
|
File name Bluebonnet Bakers.docx File type: xls PRICE: $3
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