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Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...
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Question
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Required information
[The following information applies to the questions displayed below.]
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Expenses
LANDMAR
prior years follow.
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and
For Current Year Ended December 31
Sales revenue
2
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Insurance expense
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Utilities expense
Net income
2
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@
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Utilities payable
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$ 6,000
2,380
4,800
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14,000
22,000
9,400
4,200
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$ 6,400
960
300
300
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$ 6,600
1,740
5,400
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200
360
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Transcribed Image Text:y Bookmarks Profiles Tab Window Help S (201 (2|1 (2 | pon.com/ext/map/index.html?_con=con&external_browser=0&launch ouTube aw 11 Q Required information [The following information applies to the questions displayed below.] :9 F1 Classes N Netflix Expenses LANDMAR prior years follow. Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and For Current Year Ended December 31 Sales revenue 2 Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income 2 LANSING COMPANY Income Statement @ At December 31 Accounts receivable Inventory Accounts payable Salaries payable F2 W Utilities payable Prepaid insurance Prepaid rent LANSING COMPANY Selected Balance Sheet Accounts # 3 20 F3 E Dashboard EDU 1011 (2019-F... EDU 1011 (2019-F... G Annotated Bibliog... A Study on the He... $ 4 $ 109,200 000 000 F4 Current Year $ 6,000 2,380 4,800 R 46,000 14,000 22,000 9,400 4,200 4,000 3,200 $ 6,400 960 300 300 300 % 5 Prior Year $ 6,600 1,740 5,400 740 200 360 220 F5 T < Prev 6 Saved F6 Y мр 1 of 1 & 7 Url=https%253A%252F%252FI... AA F7 U Next 8 DII F8 9 W l DD F9 0 0 F10 F11 { r
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Cash flows from operating activities:
!
A
Required:
deducted should be indicated with a minus sign.)
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Q
Adjustments to reconcile net income to net cash provided by operations:
Income statement items not affecting cash
Z
Changes in current assets and current liabilities
2
72
SO
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Transcribed Image Text:History Bookmarks (29) YouTube ces ucation.com/ext/map/index.html?_con=con&external_browser=0&launch Classes N Netflix Dashboard Mc Graw Hill Bookmarks Profiles Tab Window Help ption T Cash flows from operating activities: ! A Required: deducted should be indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows using the indirect method for the current year. (Amounts to be Q Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Z Changes in current assets and current liabilities 2 72 SO 39² W S X H LANSING COMPANY Cash Flows from Operating Activities-Indirect Method For Current Year Ended December 31 #3 80 F3 E D C 6 4 Dashboard EDU 1011 (2019-F... G $ DOO 000 F4 R LL F % 5 (20 V F5 T #tv G < Prev 6 F6 Y M MD Saved 1 of 1 H & 7 Url=https%253A%252F%252FI... Annotated Bibliog... G Annotated Bibliog... A Study on the He.... G Gma Ad F7 U B N J Next > 8 DII F8 M ( 9 K DD F9 0 L H W ) 0 L 7 F10 P F11 { [ + 11 A ? 1 F12 } ]
Expert Solution
Step 1

Cash flow statement represents the cash inflow and cash outflow of the company that involves the cash transactions from operating, financing and investing activities.

 

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