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complete the revised budgeted statement of cash flow below with the provided balance sheets of March 31 and June 30 13) Use the revised balance
complete the revised budgeted statement of cash flow below with the provided balance sheets of March 31 and June 30
13) Use the revised balance sheet from 12 above along with the Mrch 31 balance sheet provided in connect and complete the revised budgeted statement of cash flows below. Remember to include the transactions relating to the acquisition on April 1. Earrings Unlimited Statement of Cash Flow For this Quarter Ending March 31 Cash flows from operating activities Net income from 110) $1,573,180 Depreciation note 1 $115,902 Adjustments to reconcile net income to net cash provided by operating activities Net Cash Rovided operating activities Cash flows from Investing Activities Net Cash investing activities Cash flows from Financing Activities Net Cash Financing Activities Net Increase in Cash Beginning cash balance April 1, 20xx Ending Cash balance, June 30, 20xx Project 4: Page 13 of 15 IGBY MANUFACTURING Revised Budgeted Balance Sheet June 30, 2019 Assets Cash $1,413,239 Accounts receivable $909,150 Raw Material Inventory (from 12a) $100,860 Finished Goods Inventory (from 11b) $205,423 Prepaid Insurance $12,200 Property, Plant, and equipment, net $8,779,498 Total assets $11,420,370 Liabilities and Equity Accounts payable $207,934 Bank Loan Payable if any from 10) $0 Dividends payable (declared amount from 1d) $47,250 LT Note Payable (from 1d) $6,560,000 Common stock (amount from 1d plus 3/31 balance) $1,640,000 + $820,000 = $2,460,000 Retained earnings $2,135,188 Total Liabilities and Equity $11,410,372 $ 75,000 Assets Cash Accounts receivable ($28,820 February sales; $353, 760 March sales) Inventory Prepaid insurance Property and equipment (net) Total assets Liabilities and Stockholders' Equity Accounts payable Dividends payable Common stock Retained earnings Total liabilities and stockholders' equity 382,580 106,928 21,500 960,000 $ 1,546,008 $ 101,000 15,750 820,000 609,258 $ 1,546,008 Step by Step Solution
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