Question

2- me ) = Insert Page Layout Formulas Data Final Milestone - Review View Ariel - 12 - - A - / U - - A ormat Painter ard Wrap Test Merge & Center S. . 1 Conditional Format Formatting Table Normal Check Cell . Font Alignment Warning Automatic update of links has been disabled Options - Peyton Approved Peyton Approved Balance Sheet As of December 31, 2017 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc Supplies Other receivables Insurance 68,520.04 68,519.91 18,681.70 1,238.07 2,114 55 2,114.55 170.49 700 00 Liabilities and Owners' Equity Current Liabilities: Accounts Payable 23.437.11 Wages Payable 3,383 28 Interest Payable 1.46 Customer deposits 1,000.00 Total Current Assets 162,059.31 Total Current Liabilities 28,031.85 Long Term Liabilities: Notes Payable Total Long Term Liabilities: 5,000.00 Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets 12,000.00 (406.44) 5,000.00 11,593.56 Total Liabilities: 33,031.85 Common Stock Retained Earnings 20.000.00 120.821.02 Total Equity 140.621.02 Total Assets 173,652.87 T otal Liabilities & Equity 173,652.87 017RE 2012. Red Cash Flow 2017 2017 Revised Ba BS 2017 Revised Incom nation and press ENTER Orcheste Type here to search Orte L

need help balancing the statement of cash flow

Answer 1

Answer is given below

T - Account is given as supporting schedule

Working notes: PEYTON APPROVED Cash Flow Statement under Indirect method Cash flows from Operating Activities Amount Net Income $175,476.18 Add: Adjustments to reconcile net income to Depreciation $677.86 $1,200.00 opening balance Net purchase Baking Equipment $8,000.00 Accumulated Dep $5,300.00 Bank P and L Account closing balance $13,300.00 $100.00 $12,000.00 $13,300.00 Changes in Working Capital Increase in Accounts Receivable Increase in Baking supplies Increase in Merchandise Inventory Increase in Prepaid rent Increase in prepaid insurance Increase in misc. Supplies Increase in other receivable insurance Increase in Account payable Increase in wages payable Increase in Interest payable Increase in Customer Deposit Net Cash provided by Operating Activities Cash flows from Investing Activities Purchase of Baking Equipment Net Cash used by Investing Activities Cash flows from Financing Activities Repayment of note payable Dividend paid Net Cash provided by Financing Activities Net Cash inflow/(outflow) Opening balance of cash Closing balance of cash -$25,886.91 -$11,362.84 -$443.10 -$449.55 -$1,004.55 $114.99 -$600.00 $6,467.11 $1,850.48 $44.96 $1,000.00 $145,654.65 | Accumulated Depreciation-Baking Equipment Equipment $1,200.00 Opening Balance $928.58 (Dep on Equip sold) P and L Account $677.86 Closing balance $406.44 (Depreciation during the year) $1,606.44 $1,606.44 $5,300.00 -$5,300.00 $10,000.00 -$105,000.00 $115,000.00 $25,354.65 $43,165.39 $68,520.04