(Static) Statement of cash flows preparation; direct method [LO4. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 50,000 30,000 100,000 160,000 5,000 85,000 90,000 25,000 20,000 The balance of cash and cash equivalents at the beginning of 2021 was $17,000. BLUEBONNET BAKERS Statement of Cash Flows
(Static) Statement of cash flows preparation; direct method [LO4. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 50,000 30,000 100,000 160,000 5,000 85,000 90,000 25,000 20,000 The balance of cash and cash equivalents at the beginning of 2021 was $17,000. BLUEBONNET BAKERS Statement of Cash Flows
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![**Exercise 4-13 (Static) Statement of Cash Flows Preparation; Direct Method [LO4-8]**
The following summary transactions occurred during 2021 for Bluebonnet Bakers:
**Cash Received from:**
- Collections from customers: $380,000
- Interest on notes receivable: $6,000
- Collection of notes receivable: $50,000
- Sale of investments: $38,000
- Issuance of notes payable: $100,000
**Cash Paid for:**
- Purchase of inventory: $160,000
- Interest on notes payable: $5,000
- Purchase of equipment: $85,000
- Salaries to employees: $25,000
- Payment of notes payable: $90,000
- Dividends to shareholders: $20,000
The balance of cash and cash equivalents at the beginning of 2021 was $17,000.
---
**BLUEBONNET BAKERS**
**Statement of Cash Flows**
For the Year Ended December 31, 2021
**Cash flows from operating activities:**
- Cash received from customers: $380,000
**Net cash flows from operating activities: $380,000**
**Cash flows from investing activities:**
**Net cash flows from investing activities: 0**
**Cash flows from financing activities:**
**Net cash flows from financing activities: 0**
---
**Net increase in cash:**
- $380,000
**Cash and cash equivalents, January 1:**
- [Amount missing here]
**Cash and cash equivalents, December 31:**
- $380,000
(Note: Some sections in the Statement of Cash Flows are left unfilled in the image and may require additional data or calculations to complete the schedule accurately.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff4f4865a-ef7d-48b6-9e5b-0e85084b2d7c%2F76e7ff94-9bbd-49a9-be68-1a1bd6cda6cd%2Fppae2b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Exercise 4-13 (Static) Statement of Cash Flows Preparation; Direct Method [LO4-8]**
The following summary transactions occurred during 2021 for Bluebonnet Bakers:
**Cash Received from:**
- Collections from customers: $380,000
- Interest on notes receivable: $6,000
- Collection of notes receivable: $50,000
- Sale of investments: $38,000
- Issuance of notes payable: $100,000
**Cash Paid for:**
- Purchase of inventory: $160,000
- Interest on notes payable: $5,000
- Purchase of equipment: $85,000
- Salaries to employees: $25,000
- Payment of notes payable: $90,000
- Dividends to shareholders: $20,000
The balance of cash and cash equivalents at the beginning of 2021 was $17,000.
---
**BLUEBONNET BAKERS**
**Statement of Cash Flows**
For the Year Ended December 31, 2021
**Cash flows from operating activities:**
- Cash received from customers: $380,000
**Net cash flows from operating activities: $380,000**
**Cash flows from investing activities:**
**Net cash flows from investing activities: 0**
**Cash flows from financing activities:**
**Net cash flows from financing activities: 0**
---
**Net increase in cash:**
- $380,000
**Cash and cash equivalents, January 1:**
- [Amount missing here]
**Cash and cash equivalents, December 31:**
- $380,000
(Note: Some sections in the Statement of Cash Flows are left unfilled in the image and may require additional data or calculations to complete the schedule accurately.)
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