The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable $ 54,000 31,800 102,400 Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock 86,000 138,500 Dividends 0 Equipment 145,700 Income Tax Expense 11,000 30,400 Interest Expense Inventory 18,100 Notes Payable 32,600 office Expense 15,200 Prepaid Rent 7,900 10,800 Retained Earnings (beginning) Salaries and Nages Expense Service Revenue 36,600 155,800 Utilities Expense 26,000 Salaries and Wages Payable 17,000 Other cash flow information: $30,000 Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes 34,100 11,900 61,400 Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers 94,000 155,000 4. Prepare a statement cash flows for 2021. (Cash outflows should be entered as negative amounts.)

The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable $ 54,000 31,800 102,400 Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock 86,000 138,500 Dividends 0 Equipment 145,700 Income Tax Expense 11,000 30,400 Interest Expense Inventory 18,100 Notes Payable 32,600 office Expense 15,200 Prepaid Rent 7,900 10,800 Retained Earnings (beginning) Salaries and Nages Expense Service Revenue 36,600 155,800 Utilities Expense 26,000 Salaries and Wages Payable 17,000 Other cash flow information: $30,000 Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes 34,100 11,900 61,400 Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers 94,000 155,000 4. Prepare a statement cash flows for 2021. (Cash outflows should be entered as negative amounts.)

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Description: 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, IncorporatedAccounts Payable$ 54,000Accounts Receivable31,800102,400C

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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