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Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2018. Owner Santana Rey contributed
Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2018. Owner Santana Rey contributed $34,000 to the business in exchange for additional stock in the first quarter of 2018 and has received $4,300 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)
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BUSINESS SOLUT TORS Comparative Balance Sheets December 31, 2017, and March 31, 2018 . Mar. 31. Dec. 31. ants $60, 2 5,268 $ 85,877 24,067 694 2,015 1,080 Prins References Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 114.518 7.300 (720) 19,3ee (2,380) $138,018 558 1,60s 785 68,290 7.300 (360) 19,300 (1,190) $93, 340 $ 1,150 530 965 965 3,389 116,000 21,053 $138,018 82,800 7,960 593, 340 Required: 8 of 8 BUSINESS SOLUTIONS Statement of Cash Flows (indirect For Quarter Ended March 31, 2018 Cash flows from operating activities 125 points Adjustments to reconcile net income to net cash provided by operating activities References Cash flows from investing activities Net cash used in investing activities Prex 8 of 8 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2017 Cash balance at March 31, 2018Step by Step Solution
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