Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: 160,000 5,000 Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees 85,000 90,000 25,000 Payment of notes payable Dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2024 was $17,000. $ 380,000 6,000 50,000 30,000 100, 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.

Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: 160,000 5,000 Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees 85,000 90,000 25,000 Payment of notes payable Dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2024 was $17,000. $ 380,000 6,000 50,000 30,000 100, 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.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 43E: Determining Cash Flows from Financing Activities Solomon Construction Company reported the following...

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The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable $460,000 10,e00 51,000 31,000 160,000 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 220,000 6,000 85,000 90,000 37,000 32,000 The balance of cash and cash equivalents at the beginning of 2021 was $23,000. Required: Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements, (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 $380,000Interest on notes receivable 6,000Collection of notes receivable 50,000Sale of investments 30,000Issuance of notes payable 100,000Cash Paid for:Purchase of inventory 160,000Interest on notes payable 5,000Purchase of equipment 85,000Salaries to employees 90,000Payment of notes payable 25,000Dividends to shareholders…
The following summary transactions occurred during 2018 for Bluebonnet Bakers:Cash Received from:Customers $380,000Interest on note receivable 6,000Principal on note receivable 50,000Sale of investments 30,000Proceeds from note payable 100,000Cash Paid for:Purchase of inventory 160,000Interest on note payable 5,000Purchase of equipment 85,000Salaries to employees 90,000Principal on note payable 25,000Payment of dividends to shareholders 20,000The balance of cash and cash equivalents at the beginning of 2018 was $17,000.Required:Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operatingactivities
In reconciling the Cash in Bank of Cake Company with the bank statement balance for the month of November 2023, the following data are summarized: Book debits for November, including October CM for note collected, P75,000-P850,000 Book credits for November, including NSF of P20,000 and service charge of P600 for October- P620,000 Bank credits for November including CM for November for bank loan of P100,000 and October deposit in transit for P80,000-P700,000 Bank Debits for November including October outstanding checks of P200,720 and November service charge of P180- P650,000 What is the amount of outstanding checks for November?*
1. Tranvia Company revealed the following information on December 31, 2020:Cash in checking account 350,000Cash in money market account 750,000Treasury bill, purchased November 1, 2020maturing January 31, 2021 3,500,000Time deposit purchased December 1, 2020maturing March 31, 2021 4,000,000 What amount should be reported as cash and cash equivalents on December 31, 2020? 2. Affable Company provided the following information at year-end comprising the cashaccount:Cash in bank – demand deposit 5,000,000Cash on hand 400,000Postage stamps unused 5,000Certificate of time deposit 1,500,000Money order 50,000Manager check 100,000Traveler check 1,000,000Postdated customer check 500,000 What total amount should be reported as cash at year end? 3. Thor Company provided the following data on December 31, 2020:Checkbook balance 4,000,000Bank statement balance 5,000,000Check drawn on Thor’s account, payable to supplier,dated and recorded on December 31, 2020 but notmailed until January 31, 2021…
Paciano Company had the following balances at December 31, 2023: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2023 maturing Feb 28, 2024 Treasury note, purchased Mar. 1, 2023 maturing Feb. 28, 2024 P500,000 200,000 500,000 700,000 What amount should Paciano Company report as cash and cash equivalents in its December 31, 2023 statement of financial position?
Rizal Company had the following balances at December 31, 2022: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2022 maturing Feb 28, 2023 Treasury note, purchased Mar. 1, 2022 maturing Feb. 28,2023 P500,000 200,000 500,000 700,000 What amount should Rizal Company report as cash and cash equivalents in its December 31, 2022 statement of financial position?
Matilda Company financial statement information has given in the following table.ItemBeginningEndingInventory17831965Accounts Payable25602820Accounts Receivables49204200Revenue12500Cost of sales9500Required:Based on the financial statement information above, calculate the operating and cash cycle.
The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers $ 390,000 Interest on notes receivable 8,500 Collection of notes receivable 44,000 Sale of investments 24,000 Issuance of notes payable 125,000 Cash Paid for: Purchase of inventory 185,000 Interest on notes payable 7,500 Purchase of equipment 70,000 Salaries to employees 75,000 Payment of notes payable 30,000 Dividends to shareholders 25,000 The balance of cash and cash equivalents at the beginning of 2021 was $16,000. Required:Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
10. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers $ 540,000 Interest on notes receivable 11,000 Collection of notes receivable 50,000 Sale of investments 39,000 Issuance of notes payable 200,000 Cash Paid for: Purchase of inventory 260,000 Interest on notes payable 6,000 Purchase of equipment 98,000 Salaries to employees 103,000 Payment of notes payable 45,000 Dividends to shareholders 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.)
Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980
TS TaeKook Co. provided the following data on December 31, 2020: Cash- P1,800,000 Accounts receivable- P3,000,000 Inventory- P1,900,000 Accounts payable, net of debit balance of P50,000- P2,450,000 The cash of P1,800,000 included cash in bank of P1,650,000, a customer check of P100,000 marked as NSF and an employee IOU of P50,000. The cash in bank of P1,650,000 is the balance per bank statement. On Dec. 31, 2020, the outstanding check amounted to P250,000. The accounts receivable included the following: Customer's debit balances- P1,600,000 Advances to a subsidiary- P400,000 Advances to suppliers- P200,000 Receivable from officers (due currently)- P300,000 Allowance for doubtful accounts (credit)- P 100,000 Selling price of merchandise invoiced at 120% of costs, undelivered and excluded from inventory- P600,000.00 How much is the total cash and receivables, respectively, of BTS TaeKook Co. as of the end of 2020? A. P1,650,000 and P2,400,000 B. P1,400,000 and P2,200,000 C.…