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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Using a Spreadsheet to Prepare a Statement of Cash Flows

Comparative balance sheets for Cincinnati Health Club are presented below.

Chapter 11, Problem 51E, Using a Spreadsheet to Prepare a Statement of Cash Flows Comparative balance sheets for Cincinnati

Required:

Using a spreadsheet, prepare a statement of cash flows for 2019. Assume Cincinnati Health Club uses the indirect method.

To determine

Concept introduction:

Cash flow statement also known as statement of cash flows shows inflow and outflow of cash and it is divided into three categories- operating, investing and financing activities.

To prepare:

Cash Flow Statement for 2019 using indirect method.

Explanation

CASH FLOW STATEMENT FOR CINCNNATI HEALTH CLUB

Cash Flow from operating activities Amount ($)
Net Income for the period 2,700
Adjustment required for reconciliation
Depreciation 28,000
Increase in Accounts receivable (1,600)
Increase in Inventory (1,200)
Increase in Accounts Payable 19,200
Decrease in Salaries Payable (2,200)
Decrease in Income Tax payable (8,800)
Net Cash Provided from Operating Activities 36,100
Cash Flow From Investing Activities
Equipment Purchases (<

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