The following summary transactions occurred during 2021 for Bluebonnet Bakers:
Cash Rec...
Business, 26.02.2020 02:26 glowbaby123
The following summary transactions occurred during 2021 for Bluebonnet Bakers:
Cash Received from:
Collections from customers $490,000
Interest on notes receivable 11,500
Collection of notes receivable 54,000
Sale of investments 34,000
Issuance of notes payable 175,000
Cash Paid for:
Purchase of inventory 235,000
Interest on notes payable 7,500
Purchase of equipment 90,000
Salaries to employees 95,000
Payment of notes payable 40,000
Dividends to shareholders 35,000
Required:
Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards.
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