COMPLETE THE STATEMENT OF CASH FLOWS BY REFERENCING TO THE CELLS. DETERMINE THE ANSWERS BY FALLOWING THIS FORMULA SAMPLE: ='BALANCE SHEET'!C15-'BALANCE SHEET'!B15 ClipboardFontStylesA1Note: To complete the assignment, go to the worksheet tab labeled Cash FlowAВEFG184,420 | $68,700134,500Cash$25,74083,000128,00010Accounts receivableInventoryPrepaid insurance14 Long-term assets:1112132,9804,560211,000208,500203,00015Investments120,000Land255,000203,00016EquipmentAccumulated depreciation17(117,500)(101,500)181920Total assets$895,600 | $717,800212223 Liabilities and Stockholders' EquityCurrent liabilities:Accounts payableInterest payableIncome tax payable28 Long-term liabilities:Notes payableStockholders' equity:2426,500 | $3,40030,2002581,0002,30032,500262729255,000242,00030273,000307,500230,000130,00031Common stock32Retained earnings3334Total liabilities and stockholders' equity$4895,600 | $717,800Income StatementBalance SheetCash Flow...... INNOVATION ELECTRONICS, INC.Income StatementFor the Year Ended December 31, 20X2Net sales$ 2,430,000Gain on sale of land6,500Total revenues2,436,5002 Expenses:Cost of goods soldOperating expensesDepreciation expenseInterest expense$ 1,565,000598,00016,00017,00063,000Income tax expenseTotal expenses2,259,0001Net income177,500%24

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Description: COMPLETE THE STATEMENT OF CASH FLOWS BY REFERENCING TO THE CELLS. DETERMINE THE ANSWERS BY FALLOWING THIS FORMULA SAMPLE: ='BALANCE SHEET'!C15-'BALANCE SHEET'!B15 ClipboardFontStylesA1Note: To complete the assignment, go to the worksheet tab labeled

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COMPLETE THE STATEMENT OF CASH FLOWS BY REFERENCING TO THE CELLS. DETERMINE THE ANSWERS BY FALLOWING THIS FORMULA SAMPLE: ='BALANCE SHEET'!C15-'BALANCE SHEET'!B15

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3. Using the following answer keys, you are to identify in which activity each of the transactions is classified and its effect on cash flows. Cash Flow Classification...using the capital letter only: O...Operating Activity I...Investing Activity F...Financing Activity OI...Operating and Investing Activity N...Noncash Transaction Effect on Cash Flows...using the capital letter only: I...Increase D...Decrease N...No Effect Transaction Cash Flow Classification Effect on Cash Flows Declared and paid a cash dividend. Sold short-term trading securities at a gain. Retired fully depreciated equipment. Sold a machine at a loss. Purchased long-term available-for-sale securities. Decreased accounts receivable. Purchased 90-day Treasury bill. Incurred a net loss. Declared and issued a stock dividend. Sold treasury stock.
5. Using the following answer keys, you are to identify in which activity each of the transactions is classified and its effect on cash flows. Cash Flow Classification...using the capital letter only: O...Operating Activity I...Investing Activity F...Financing Activity OI...Operating and Investing Activity N...Noncash Transaction Effect on Cash Flows...using the capital letter only: I...Increase D...Decrease N...No Effect Transaction Cash Flow Classification Effect on Cash Flows Paid a cash dividend. Decreased accounts receivable. Increased inventory. Retired long-term debt with cash. Sold long-term securities at a loss. Issued stock for equipment. Decreased prepaid insurance. Purchased treasury stock with cash. Retired a fully depreciated truck (no gain or loss). Transferred cash to money market account.
Please explain how to prepare a statement of cash flows (indirect method) including analyzing tables? Please provide an example. Thank you,
Provide iand Create nformation needed to create a Statement of Cash Flows using the Indirect Method. You MUST include: Net Income At least 3 items that go under operating activities. At least 2 items that go under investing activities. At least 2 items that go under financing activities. And 1 non-cash transaction.
Write the preparation of the Statement of Cash Flows by Direct method BI 1,
Which of the following is the final step in preparing a spreadsheet (work sheet) for the statement of cash flows using the indirect method? Add the Debit and Credit Transactions columns and verify that the totals are equal. Analyze all noncash accounts and enter the net increase (decrease) in cash during the period. Add the Balance column totals, which should total to zero. After all noncash accounts have been analyzed, enter the net increase (decrease) in cash during the period.
Can you please write the calculations step by step including the formulas. How did you calculate the Cash flow in order to calculate the cumulative cash flow after that?
abels and Amount Descriptions Instructions Labels Dec. 31, Dec. 31, December 31, 20Y3 20Y3 20Y2 For the Year Ended December 31, 20Y3 Amount Descriptions Assets 3 Cash $625,680.00 $586,230.00 Cash received from sale of investments 228,100.00 208,850.00 4 Accounts receivable (net) 5 Inventories Cash paid for purchase of land Cash paid for purchase of equipment Cash received from issuing common 640,910.00 617,650.00 0.00 240,620.00 6 Investments 7 Land 328,090.00 0,00 stock 704,540.00 553,320.00 8 Equipment 9 Accumulated depreciation-equipment Cash dividends (166,310.00) (147840.00) Decrease in accounts payable Decreașe in accounts receivable Decrease in accrued expenses payable 10 Total assets $2,361,010.00 $2,058,830.00 11 Liabilities and Stockholders' Equity $425,280.00 $404,550.00 52,020.00 12 Accounts payable Decrease in inventories 41,990.00 13 Accrued expenses payable Depreciation 24,190.00 20,170.00 14 Dividends payablie Gain on sale of investments 15 Common stock, $4 par…
When using the indirect method of preparing the statement of cash flows, the starting pointto determine net cash provided by operating activities isa. sales.b. net income.c. the beginning cash balance.d. the ending cash balance.
Identify and explain the major steps involved in preparingthe statement of cash flows.
Required Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for in activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. every cell will require entry. Enter any decreases to account balances and cash outflows with a minus sign.)
A cash flow table is basically a two-column table, in which the first column lists the time periods and the second column lists the corresponding cash flows Select one: O True O False