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 $540,000 11,000 50,000 39,000 200,000 260,000 6,000 98,000 103,000 45,000 40,000 The balance of cash and cash equivalents at the beginning of 2021 was $31,000. Required: Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)
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 $540,000 11,000 50,000 39,000 200,000 260,000 6,000 98,000 103,000 45,000 40,000 The balance of cash and cash equivalents at the beginning of 2021 was $31,000. Required: Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
$540,000
11,000
50,000
39,000
200,000
260,000
6,000
98,000
103,000
45,000
40,000
The balance of cash and cash equivalents at the beginning of 2021 was
$31,000.
Required:
Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the
direct method for reporting operating activities. (Amounts to be deducted
should be indicated with a minus sign.)
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