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need help making a statement of cash flows. Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business.
need help making a statement of cash flows.
Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will prepare the statement of cash flows using the following financial data) BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2016 Total revenue Cost of goods sold Depreciation expense Ofice equipment Depreciation expense Computer equipment Wages pense Rent expense Computerwolie expense Advertising expense Mileage expense Repairs expense Computer Totale Net Income BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2015, and March 31, 2016 Mar. 31, Dec. 31, $ 78,677 $54,122 Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depresion Office equipment Computer equipment Accumuld depreciation Computer equipment Totalsts Liabilities and Equity Accounts payable Wages payable Uneamed computer service revenue $ 1.200 Total current liabilities Equity Common stock Retained earnings Total abilities and equity $131.238 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2016. Recall that the owner Santana Rey contributed $32,000 to the business in exchange for additional stock in the first quarter of 2016 and has received $4,700 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) Step by Step Solution
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