Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12. please complete correctly and ill give a thumbs up. thanks roblem-12 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
12. please complete correctly and ill give a thumbs up. thanks
roblem-12 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue $25,307 Net sales 17.793 Total revenue 43,100 Cost of goods sold $14,652 Depreciation expense-Office equipment 300 Depreciation expense-Computer equipment 1.170 Wages expense Insurance expense 495 2,175 Computer supplies expense 1,295 Advertising expense 550 Mileage expense 290 Repairs expense-Computer 910 Total expenses 24,37 Net Income $18,713 Rent es Expense P rences BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2028 Mar 31 2028 Dec 31, 2019 Assets Cash $ 78,627 553,832 Accounts receivable 24, 167 5,265 Inventory 644 Computer supplies 2.5 520 Prepaid insurance 1,020 1,545 Prepaid rent 255 Total current assets 17.250 office equipment 7.400 7,400 Accutated depreciation office equipant (60) (390) Computer equipment 19,300 19,200 Accumulated depreciation Computer count 40) 2701 Total assets 5131,018 $87,250 ME GEW Prov Next MacBook Pro A & ! # 3 $ 4 % 5 2 6 7 8 9 o Q W P E R T Y U 0 . S D F G HJ L . Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2019 Cash balance at March 31, 2020 Prey 1 of 1 !!! Next MacBook Pro a @ A A & # 3 % 5 2 4 6 7 8 W E R T Y

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Theory And Practice

Authors: Roger H. Hermanson

1st Edition

0256023301, 978-0256023305

More Books

Students also viewed these Accounting questions

Question

Describe the ultimate attribution error.

Answered: 1 week ago