Please do not give solution in image format thanku The following summary transactions occurred during 2024 for Bluebonnet Bakers:Cash Received from:Collections from customersInterest on notes receivableCollection of notes receivableSale of investmentsIssuance of notes payableCash Paid for:Purchase of inventoryInterest on notes payablePurchase of equipmentSalaries to employeesPayment of notes payableDividends to shareholders34,00029,000The balance of cash and cash equivalents at the beginning of 2024 was $20,000.BLUEBONNET BAKERSStatement of Cash FlowsFor the Year Ended December 31, 2024Required:Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities.Note: Amounts to be deducted should be indicated with a minus sign.Cash flows from operating activities:Net cash flows from operating activitiesCash flows from investing activities:$ 430,0008,50048,00028,000145,000Net cash flows from investing activitiesCash flows from financing activities:Net cash flows from financing activities205,0009,50082,00087,000 Sale of investmentsIssuance of notes payableCash Paid for:205,0009,500Purchase of inventory.Interest on notes payablePurchase of equipmentSalaries to employeesPayment of notes payableDividends to shareholders82,00087,00034,00029,000The 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 BAKERSStatement of Cash FlowsFor the Year Ended December 31, 2024Cash flows from operating activities:Net cash flows from operating activitiesCash flows from investing activities:Net cash flows from investing activitiesCash flows from financing activities:28,000145,000Net cash flows from financing activitiesNet increase in cashCash and cash equivalents, January 1Cash and cash equivalents, December 31

Statement of cash flows is one of the financial statement which shows all cash inflows and cash…

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:

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:

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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