### Larry's Landscaping#### Statement of Cash Flows (Indirect Method)#### for the Period May 1 to May 31, 2021This is a structured template that captures the cash flow activities of Larry's Landscaping for the specified period, utilizing the indirect method of accounting. Below is a detailed transcription of the cash flow statement:---### Cash Flows from Operating Activities**Net Income**- [Fields here are reserved for input of specific financial data]---### Cash Provided by Operating Activities- [Fields here are reserved for input of specific financial data]---### Cash Flows from Investing Activities**Cash Used by Investing Activities**- [Fields here are reserved for input of specific financial data]---### Cash Flows from Financing Activities**Cash Used by Financing Activities**- [Fields here are reserved for input of specific financial data]---### Decrease in Cash from May 1 to May 31, 2021- [A field reserved for input of specific financial data indicating the total decrease in cash]---### Beginning Cash Balance May 1, 2021- [A field reserved for the opening balance on May 1, 2021]---### Decrease in Cash from May 1 to May 31, 2021- [This is a repetition of the previously stated decrease in cash for confirmation and clarity]---### Ending Cash Balance May 31, 2021- [A field reserved for the closing balance on May 31, 2021]---This comprehensive template organizes all the necessary sections for a complete Statement of Cash Flows. These include operational, investing, and financing activities, alongside both the beginning and ending cash balances for a given period. Users should input the respective financial data into the provided fields to get a clear picture of their cash flow status.**Note:** The visual has highlighted fields (in yellow) indicating input areas for financial details, which allows for a clear and organized format essential for financial reporting and analysis. ---### Larry’s Landscaping: Comparative Balance Sheets for May 31, 2021, and April 30, 2021#### The following are the Balance Sheets for Larry’s Landscaping as of April 30, 2021 (the end of last period) and May 31, 2021 (the end of this period):#### Assets| Description | May 31, 2021 | April 30, 2021 ||-------------------------------------|--------------|----------------|| Cash | $18,000 | $21,000 || Accounts Receivable | $1,100 | $0 || Supplies | $1,000 | $1,500 || Prepaid Insurance | $3,300 | $3,300 || **Total Current Assets** | $28,100 | $25,800 || Equipment | $44,000 | $40,000 || Building | $100,000 | $100,000 || Accumulated Depreciation Equipment | ($1,600) | ($1,000) || Accumulated Depreciation Building | ($3,000) | ($2,000) || Land | $20,000 | $20,000 || **Total Property, Plant & Equipment** | $159,400 | $157,000 || **Total Assets** | $187,500 | $182,800 |#### Liabilities| Description | May 31, 2021 | April 30, 2021 ||-------------------------|--------------|----------------|| Wages Payable | $1,500 | $0 || Interest Payable | $0 | $550 || **Total Current Liabilities** | $1,500 | $550 || Note Payable Long-Term | $105,000 | $110,000 || **Total Liabilities** | $106,500 | $110,550 |#### Owners' Equity| Description | May 31, 2021 | April 30, 2021 ||--------------------------------------------|--------------|----------------|| Common Stock | $6,000 | $6,000 || Paid-in Capital in Excess

Name: ### Larry's Landscaping#### Statement of Cash Flows (Indirect Method)
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Description: ### Larry's Landscaping#### Statement of Cash Flows (Indirect Method)#### for the Period May 1 to May 31, 2021This is a structured template that captures the cash flow activities of Larry's Landscaping for the specified period, utilizing the indirec

Larry's Landscaping Statement of Cash Flows (Indirect Method) For the Period May 1 to May 31,…

Business

Accounting

The following are the Balance Sheets for Larry's Landscaping as of April 30, 2021 (the end of last period) and May 31, 2021 (the end of this period): May 31, 2021 April 30, 2021 Assets Cash $ 18,000 6,000 1,100 3,000 28,100 $ 21,000 Accounts Receivable Supplies Prepaid Insurance 1,500 3,300 25,800 40,000 100,000 (1,000) (2,000) 20,000 157,000 $182.800 Total Current Assets Equipment Building Accumulated Depreciation Equipment Accumulated Depreciation Building Land Total Property, Plant & Equipment 44,000 100,000 (1,600) (3,000) 20.000 159,400 Total Assets $187.500 Liabilities Wages Payable Interest Payable $ 1,500 $ 550 550 Total Current Liabilities 1,500 105.000 106,500 110,000 110,550 Note Payable Long-Term Total Liabilities Owners' Equity Common Stock Paid-in Capital in Excess of Par Value .. Retained Earnings 6,000 54,000 21,000 81,000 Total Liabilities and Equity $187,500 6,000 54,000 12,250 72,250 $182.800 Total Owners' Equity The following is additional information for the period May 1 to May 31, 2021: D Additional Equipment was purchased for $4,000 cash. A $5,000 cash payment was made to pay down the Note Payable. > The Income Statement for May showed a Net Income of $8,750. 20

The following are the Balance Sheets for Larry's Landscaping as of April 30, 2021 (the end of last period) and May 31, 2021 (the end of this period): May 31, 2021 April 30, 2021 Assets Cash $ 18,000 6,000 1,100 3,000 28,100 $ 21,000 Accounts Receivable Supplies Prepaid Insurance 1,500 3,300 25,800 40,000 100,000 (1,000) (2,000) 20,000 157,000 $182.800 Total Current Assets Equipment Building Accumulated Depreciation Equipment Accumulated Depreciation Building Land Total Property, Plant & Equipment 44,000 100,000 (1,600) (3,000) 20.000 159,400 Total Assets $187.500 Liabilities Wages Payable Interest Payable $ 1,500 $ 550 550 Total Current Liabilities 1,500 105.000 106,500 110,000 110,550 Note Payable Long-Term Total Liabilities Owners' Equity Common Stock Paid-in Capital in Excess of Par Value .. Retained Earnings 6,000 54,000 21,000 81,000 Total Liabilities and Equity $187,500 6,000 54,000 12,250 72,250 $182.800 Total Owners' Equity The following is additional information for the period May 1 to May 31, 2021: D Additional Equipment was purchased for $4,000 cash. A $5,000 cash payment was made to pay down the Note Payable. > The Income Statement for May showed a Net Income of $8,750. 20

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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