The following summary transactions occurred during 2024 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: 205,000 9,500 Purchase of inventory Interest on notes payable Purchase of equipment i Salaries to employees Payment of notes payable Dividends to shareholders 82,000 87,000 34,000 29,000 The balance of cash and cash equivalents at the beginning of 2024 was $20,000. Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign. BLUEBONNET BAKERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash flows from operating activities: $ 430,000 8,500 48,000 28,000 145,000 Net cash flows from operating activities Cash flows from investing activities:

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Chapter1: Financial Statements And Business Decisions
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The following summary transactions occurred during 2024 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
34,000
29,000
The balance of cash and cash equivalents at the beginning of 2024 was $20,000.
BLUEBONNET BAKERS
Statement of Cash Flows
For the Year Ended December 31, 2024
Required:
Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
Note: Amounts to be deducted should be indicated with a minus sign.
Cash flows from operating activities:
Net cash flows from operating activities
Cash flows from investing activities:
$ 430,000
8,500
48,000
28,000
145,000
Net cash flows from investing activities
Cash flows from financing activities:
Net cash flows from financing activities
205,000
9,500
82,000
87,000
Transcribed Image Text:The following summary transactions occurred during 2024 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 34,000 29,000 The balance of cash and cash equivalents at the beginning of 2024 was $20,000. BLUEBONNET BAKERS Statement of Cash Flows For the Year Ended December 31, 2024 Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: $ 430,000 8,500 48,000 28,000 145,000 Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities 205,000 9,500 82,000 87,000
Sale of investments
Issuance of notes payable
Cash Paid for:
205,000
9,500
Purchase of inventory.
Interest on notes payable
Purchase of equipment
Salaries to employees
Payment of notes payable
Dividends to shareholders
82,000
87,000
34,000
29,000
The balance of cash and cash equivalents at the beginning of 2024 was $20,000.
Required:
Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
Note: Amounts to be deducted should be indicated with a minus sign.
BLUEBONNET BAKERS
Statement of Cash Flows
For the Year Ended December 31, 2024
Cash flows from operating activities:
Net cash flows from operating activities
Cash flows from investing activities:
Net cash flows from investing activities
Cash flows from financing activities:
28,000
145,000
Net cash flows from financing activities
Net increase in cash
Cash and cash equivalents, January 1
Cash and cash equivalents, December 31
Transcribed Image Text:Sale of investments Issuance of notes payable Cash Paid for: 205,000 9,500 Purchase of inventory. Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders 82,000 87,000 34,000 29,000 The balance of cash and cash equivalents at the beginning of 2024 was $20,000. Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign. BLUEBONNET BAKERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: 28,000 145,000 Net cash flows from financing activities Net increase in cash Cash and cash equivalents, January 1 Cash and cash equivalents, December 31
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