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Bonita Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have
Bonita Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Bonita Industries for 2022 and 2021 are provided below. Cash Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable BALANCE SHEETS $607000 (321000) 12/31/22 $407000 360000 385000 286000 $1438000 $175000 352000 358000 $960000 (302000 ) 12/31/21 $191000 214000 480000 658000 $1543000 $98000 394000 598000 Bonita Industries has recently decided to go public and has hired you as an independent CPA One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Bonita Industries for 2022 and 2021 are provided below INCOME STATEMENT For the Year Ended December 31, 2022 The following additional data were provided 1. Dividends for the year 2022 were $191000. 2. During the year. equipment was sold for $241000. This equipment cost $350000 originally and had a book value of $286000 at the tine of sale. The loss on sale was incorrectly charaed to cost of sales 3. Aldepreciation cupense is in the sclling expense category. The net eash provided (used) by imestines actilies is $(286000) $241000 545000 $(350000)
Bonita Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Bonita Industries for 2022 and 2021 are provided below. Cash Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable BALANCE SHEETS $607000 (321000) 12/31/22 $407000 360000 385000 286000 $1438000 $175000 352000 358000 $960000 (302000 ) 12/31/21 $191000 214000 480000 658000 $1543000 $98000 394000 598000
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