Santana Rey, owner of Business Solutions, decides to prepare a st

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   Computer services revenue       $ 25,107     Net sales         18,493             Total revenue         43,600     Cost of goods sold $ 14,152         Depreciation expense—Office equipment   400         Depreciation expense—Computer equipment   1,180         Wages expense   2,550         Insurance expense   465         Rent expense   2,175         Computer supplies expense   1,275         Advertising expense   520         Mileage expense   230         Repairs expense—Computer   940                 Total expenses         23,887             Net income       $ 19,713             BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2015, and March 31, 2016   Mar. 31, 2016   Dec. 31, 2015   Assets                 Cash $ 83,397     $ 58,952     Accounts receivable   24,467       5,368     Inventory   674       0     Computer supplies   2,035       520     Prepaid insurance   1,040       1,665     Prepaid rent   775       775         Total current assets   112,388       67,280     Office equipment   7,200       7,200     Accumulated depreciation—Office equipment   (800 )     (400 )   Computer equipment   19,900       19,900     Accumulated depreciation—Computer equipment   (2,360 )     (1,180 )       Total assets $ 136,328     $ 92,800         Liabilities and Equity                 Accounts payable $ 0     $ 1,180     Wages payable   955       560     Unearned computer service revenue   0       1,800         Total current liabilities   955       3,540     Equity                 Common stock   112,000       81,000     Retained earnings   23,373       8,260         Total liabilities and equity $ 136,328     $ 92,800          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 $31,000 to the business in exchange for additional stock in the first quarter of 2016 and has received $4,600 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)   References eBook & Resources WorksheetLearning Objective: 12-P1 Prepare a statement of cash flows.Learning Objective: 12-P3 Determine cash flows from both investing and financing activities. Difficulty: 3 HardLearning Objective: 12

Online Custom Essay

Cost of your order

{{total || ""}}

Why Choose Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission and Business Papers

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing and Proofreading

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

eskort eskişehir - adana eskort - escort - izmit eskort - mersin eskorteskort eskişehir - adana eskort - escort - izmit eskort - mersin eskort