Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sartand Rey, owner of Business Solutians, decides to prepare a statement of cash nows for her business using the following thanclol data. Prepare a statement

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sartand Rey, owner of Business Solutians, decides to prepare a statement of cash nows for her business using the following thanclol data. Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31,2022 . Owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $3.900 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for he data. BUSINESS SOLUTIONS Comparative Balance Sheets March 31, December 31, 20222821 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets office equipment Accumulated depreciation-0ffice 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 $79,48723,567$58,9624,768 \begin{tabular}{rr} 684 & \\ 2,965 & 53 \\ 1,11 & 1,615 \\ 885 & 895 \\ \hline 17,718 & 65,789 \\ 7,49 & 7,49 \end{tabular} (748)(37) \begin{tabular}{rr} 19,50 & 19,59 \\ (2,49) & (1,20) \\ \hline$131,478 & $91,11 \\ \hline \hline \end{tabular} \begin{tabular}{rr} S & $1,13 \\ 925 & 52 \\ & 1,8 \\ \hline 925 & 3,45 \end{tabular} \begin{tabular}{rr} 107,09 & 8,9 \\ 23,553 & 7,66 \\ \hline$131,478 & $91,11 \\ \hline \end{tabular} Required: Prepare a statement of cash flows for Business Solutions wsing the indirect method for the three months ended March 31,2022. Owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $3.900 in cash dividends. (Amounts to be deducted should hn indieated whth m minu eines

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Internal Auditing Handbook

Authors: K. H. Spencer Pickett

3rd Edition

0470518715, 978-0470518717

More Books

Students also viewed these Accounting questions

Question

Consistently develop management talent.

Answered: 1 week ago

Question

Create a refreshed and common vision and values across Europe.

Answered: 1 week ago

Question

Provide the best employee relations environment.

Answered: 1 week ago