Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN: 9781285595047
Author: Weil
Publisher: Cengage
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a. Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Try to duplicate the formatting exactly.
b. On another worksheet, create a statement of cash flows for 2020. Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets.
C. Using Excel's outlining feature, create an outline on the statement of cash flows that, when collapsed, shows only the subtotals for each section.
d. Suppose that sales were $425,000 in 2020 rather than $412,500. What is the 2020 net income and retained earnings?
e. Undo the changes from part d, and change the tax rate to 20%. What is the 2020 net income and retained earnings?
A company uses a spreadsheet to prepare its statement of cash flows. Indicate whether each of the followingitems would be recorded in the Debit column or Credit column of the spreadsheet’s statement of cashflows section. Increase in interest payable
a) Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Please show all dollar amount to thousands of dollars.
b) On another sheet, create a statement of cash flows for 2019. Do not enter any numbers directly on this sheet. All formulas should be linked directly to the source on previous worksheets.
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- Using a Spreadsheet to Prepare a Statement of Cash Flows Jane Bahr, a controller of Endicott & Thurston, prepared the following balance sheets at the end of 2019 and 2018: Required: 1. Using a spreadsheet, prepare a statement of cash flows for 2019. Assume Endicott & Thurston use the indirect method. 2. CONCEPTUAL CONNECTEON Discuss whether Endicott & Thurston appear to have matched the timing of inflows and outflows of cash.arrow_forwardCONTINUING PROBLEM: FRONT ROW ENTERTAINMENT The income statement and comparative balance sheet for Front Row Entertainment are shown below: What conclusions can you draw about Front Row from the observed pattern of cash flows?arrow_forwardFinancial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b. Interpret the results computed in (a).arrow_forward
- Please prepare a statement of cash flows using the following data. Please include any equations or calculations used through excel.arrow_forwardWhen using the spreadsheet for the statement of cash flows indirect method entries made on the spreadsheet are ?arrow_forwardPrepare a statement of cash flows with the data. Thank youarrow_forward
- Using a spreadsheet to complete the statement of cash flows—indirect method Companies can use a spreadsheet to complete the statement of cash flows. Each item that follows is recorded in the transaction analysis columns of the spreadsheet. a. Net income b. Increases in current assets (other than Cash) c. Decreases in current liabilities d. Cash payment for acquisition of plant assets e. Cash receipt from issuance of common stock f. Depreciation expense Identify each as being recorded by a Debit or Credit in the statement of cash flows section of the spreadsheet.arrow_forwardUsing a spreadsheet to complete the statement of cash flows—indirect method Companies can use a spreadsheet to complete the statement of cash flows. Each item that follows is recorded in the transaction analysis columns of the spreadsheet. Net income Increases in current assets (other than Cash) Decreases in current liabilities Cash payment for the acquisition of plant assets Cash receipt from the issuance of common stock Depreciation expense Identify each as being recorded by a Debit or Credit in the statement of cash flows section of the spreadsheet.arrow_forwardPlease use excel, need help with functions and setting up cash flows in Excel. May youplease explain where/how you are getting the numbers through providing explanation and show the formulas. Thank you!arrow_forward
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