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:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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