FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Prepare a statement of
Transcribed Image Text:4. Prepare a statement of cash flows for 2021. (Cash outflows should be entered as negative amounts.)
NICE BITE, Incorporated
Statement of Cash Flows
For the Year Ended December 31, 2021
Cash Flows from Operating Activities
Cash Received From Customers
$
139,000
Cash Paid to Suppliers and Employees
84,400
Cash Paid for Income Taxes
11,100
Cash Provided by Operating Activities
$
234,500
Cash Flows from Investing Activities
Cash Paid to Purchase Long-Term Assets
(53,400)
(24,500)
Cash Used in Investing Activities
(77,900)
Cash Flows from Financing Activities
Cash from Issuing Common Stock
22,000
Cash Paid to Reacquire Common Stock
22,000
Decrease in Cash
$
(12,400)
Cash at January 1, 2021
90,400
Cash at December 31, 2021
$
78,000
![!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers](https://content.bartleby.com/qna-images/question/51535845-8e4c-44c4-a6be-da9a54d2bbef/863422a6-6221-4f72-a804-c3bb12795210/yr9kny3_processed.png)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers
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