Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: 160,000 5,000 Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees 85,000 90,000 25,000 Payment of notes payable Dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2024 was $17,000. $ 380,000 6,000 50,000 30,000 100, 000 Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign.

Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: 160,000 5,000 Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees 85,000 90,000 25,000 Payment of notes payable Dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2024 was $17,000. $ 380,000 6,000 50,000 30,000 100, 000 Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Topic: Cash and Cash Equivalents / Intermediate Accounting 1
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