I would really appreciate if someone could help me fill in this Statement of Cash Flows with the following information. It's worth mentioning that the
I would really appreciate if someone could help me fill in this Statement of Cash Flows with the following information.
It's worth mentioning that the Net cash provided by operating activities is $43,738.89 and the Net increase in cash is $101,115.79. These details were given to me in the problem.
Edit: I have no clue if any of the information within the financial statement is correct (those are simply my guesses). But the first 3 images are correct as far as I am aware.
Change in Cash 2021 2022 Description Federal income taxes withheld $-878.81 S-1,159.00 $280.19 State income taxes withheld $-447.95 $-670.74 $222.79 State unemployment taxes payable $-281.17 $-117.89 $-163.28 Federal unemployment taxes payable $-83.31 $-19.93 S-63.38 F.I.C.A. taxes payable S-1,593.30 $-2,276.22 $682.92 Federal income taxes payable $-29,797.00 $-36,828.95 $7,031.95 Dividends payable $0.00 $0.00 $0.00 Interest payable $0.00 $-162.74 $162.74 Notes payable $0.00 $-90,000.00 $90,000.00 Unearned revenue $0.00 $0.00 $0.00 Common stock $-225,000.00 $-225,000.00 $0.00 Paid in capital $0.00 $0.00 $0.00 Income summary $0.00 $0.00 $0.00 Change in Cash Description 2021 2022 Accounts receivable $11,065.00 $45,457.00 5-34,392.00 Accounts receivable from employees $0.00 $0.00 $0.00 Allowance for doubtful accounts S-3,250.81 $-4,897.45 $1,646.64 Inventory $ 101,681.00 $ 201,134.00 5-99,453.00 Prepaid expense $0.00 $0.00 $0.00 Marketable securities $0.00 $24,000.00 S-24,000.00 Interest receivable $0.00 $0.00 $0.00 Fixed assets $320,665.00 $329,288.10 $-8,623.10 Accumulated depreciation $-81,559.50 $-116,338.81 $34,779.31 Notes receivable $0.00 $0.00 $0.00 Accounts payable $-11,279.35 S-5,736.35 $-5,543.00 Wages and salaries payable $0.00 $0.00 $0.00 Federal income taxes withheld $-878.81 S-1,159.00 $280.19 Change in Cash Description 2021 2022 Federal unemployment taxes payable $-83.31 $-19.93 S-63.38 F.I.C.A. taxes payable $-1,593.30 S-2,276.22 $682.92 Federal income taxes payable $-29,797.00 $-36,828.95 $7,031.95 Dividends payable $0.00 $0.00 $0.00 Interest payable $0.00 $-162.74 $ 162.74 Notes payable $0.00 $-90,000.00 $90,000.00 Unearned revenue $0.00 $0.00 $0.00 Common stock $-225,000.00 $-225,000.00 $0.00 Paid in capital $0.00 $0.00 $0.00 Income summary $0.00 $0.00 $0.00 Retained earnings $-90,264.99 $-228,812.00 $138,547.01 Dividends declared $0.00 $0.00 $0.00 Total Change S-11,025.19 $-112,140.98 $101,115.79 CASH FLOWS FROM OPERATING ACTIVITIES Net income $138,547.01 Adjustments to reconcile net income to net cash from operations Depreciation $34,779.31 Gains from sale of fixed assets and marketable securities $24,000.00 (Increase) decrease in assets: Accounts receivable $-34,392.00 Inventory $-99,453.00 Prepaid Expenses Increase (decrease) in liabilities: Accounts payable $5,543.00 Payroll taxes withheld and payable $-7,991.19 Federal Income taxes payable $-7,714.87 Unearned Revenue Interest payable $-162.74 Net cash provided by operating activities $53,155.52 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of marketable security Purchase of Marketetable securities Cash payments for fixed assets $8,623.10 Purchase of marketable securities Net cash used in investing activities $8,623.10 CASH FLOWS FROM FINANCING ACTIVITIES Cash proceeds from loans $90,000.00 Repayments of loans Net cash provided by financing activities $90,000.00 NET INCREASE IN CASH
