Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. Note: Some of the input cells marked in blue may not require entries. James Island Clothing Company Spreadsheet for Statement of Cash Flows December 31, 2018 3 3 Panel A-Balance Sheet _0 ● 11 Cash 12 Accounts Receivable 13 Inventory 14 Office Equipment 15 Truck 16 Accumulated Depreciation-Plant Assets 17 Total Assets 18 19 Accounts Payable 20 Note Payable-Short Term 21 Note Payable - Long Term 22 Total Liabilities 23 24 Common Stock 25 Retained Earnings 26 Total Liabilities and Stockholders' Equity 27 28 29 Panel B-Statement of Cash Flows 30 Cash Flows from Operating Activities: 31 Net Income 32 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 33 Depreciation Expense- Plant Assets 34 Increase in Accounts Receivable 35 Increase in Inventory 36 Increase in Accounts Payable 37 Increase in Notes Payable-Short-term 38 Net Cash Provided by Operating Activities 39 Cash Flows from Investing Activities: 40 Cash Paid for Acquisition of Plant Assets 41 Net Cash Used for Investing Activities 42 Cash Flows from Financing Activities: 43 Cash Receipt from Issuance of Common Stock 44 Cash Payment of Dividends 45 Net Cash Provided by Financing Activities 46 Net Increase (Decrease) in Cash: 47 Total 48 $ $ $ Balance 7/1/18 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 Transaction Analysis Debit Credit 95,700 12,000 4,400 26,000 18,000 2,600 6,000 (12,000) (4,400) 5,500 10,000 (6,000) (5,000) 100,000 (1,000) 100,000 1,600 $ $ $ $ 7,700 (11,000) 99,000 95,700 95,700 95,700 12,000 4,400 26,000 $ 18,000 (6,000) $ 150,100 5,500 10,000 33,000 48,500 100,000 1,600 150,100 6,000 5,500 $ 10,000 $ 33,000 $ SS Balance 12/31/18 $
Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. Note: Some of the input cells marked in blue may not require entries. James Island Clothing Company Spreadsheet for Statement of Cash Flows December 31, 2018 3 3 Panel A-Balance Sheet _0 ● 11 Cash 12 Accounts Receivable 13 Inventory 14 Office Equipment 15 Truck 16 Accumulated Depreciation-Plant Assets 17 Total Assets 18 19 Accounts Payable 20 Note Payable-Short Term 21 Note Payable - Long Term 22 Total Liabilities 23 24 Common Stock 25 Retained Earnings 26 Total Liabilities and Stockholders' Equity 27 28 29 Panel B-Statement of Cash Flows 30 Cash Flows from Operating Activities: 31 Net Income 32 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 33 Depreciation Expense- Plant Assets 34 Increase in Accounts Receivable 35 Increase in Inventory 36 Increase in Accounts Payable 37 Increase in Notes Payable-Short-term 38 Net Cash Provided by Operating Activities 39 Cash Flows from Investing Activities: 40 Cash Paid for Acquisition of Plant Assets 41 Net Cash Used for Investing Activities 42 Cash Flows from Financing Activities: 43 Cash Receipt from Issuance of Common Stock 44 Cash Payment of Dividends 45 Net Cash Provided by Financing Activities 46 Net Increase (Decrease) in Cash: 47 Total 48 $ $ $ Balance 7/1/18 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 Transaction Analysis Debit Credit 95,700 12,000 4,400 26,000 18,000 2,600 6,000 (12,000) (4,400) 5,500 10,000 (6,000) (5,000) 100,000 (1,000) 100,000 1,600 $ $ $ $ 7,700 (11,000) 99,000 95,700 95,700 95,700 12,000 4,400 26,000 $ 18,000 (6,000) $ 150,100 5,500 10,000 33,000 48,500 100,000 1,600 150,100 6,000 5,500 $ 10,000 $ 33,000 $ SS Balance 12/31/18 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Not sure how to complete requirement 2 (statement of cash flows )
Transcribed Image Text:10
B
A
Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns.
Note: Some of the input cells marked in blue may not require entries.
4
5
James Island Clothing Company
Spreadsheet for Statement of Cash Flows
December 31, 2018
6
7
8
9 Panel A-Balance Sheet
10
•
11 Cash
12 Accounts Receivable
13 Inventory
14 Office Equipment
15 Truck
16 Accumulated Depreciation-Plant Assets
A
17 Total Assets
18
7
19 Accounts Payable
20 Note Payable-Short Term
21 Note Payable - Long Term
22 Total Liabilities
23
24 Common Stock
25 Retained Earnings
26 Total Liabilities and Stockholders' Equity
27
28
29 Panel B-Statement of Cash Flows
30 Cash Flows from Operating Activities:
31 Net Income
32 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
33 Depreciation Expense - Plant Assets
34 Increase in Accounts Receivable
35 Increase in Inventory
36 Increase in Accounts Payable
37 Increase in Notes Payable-Short-term
38 Net Cash Provided by Operating Activities
39 Cash Flows from Investing Activities:
40 Cash Paid for Acquisition of Plant Assets
41 Net Cash Used for Investing Activities
42 Cash Flows from Financing Activities:
43 Cash Receipt from Issuance of Common Stock
44 Cash Payment of Dividends
45 Net Cash Provided by Financing Activities
46 Net Increase (Decrease) in Cash:
47 Total
48
49
50
51
52
53
54
Instructions
Ready
esc
Worksheet
Stmt of Cash Flows
$
$
$
Balance
7/1/18
+
0 $
0
0
0
0
0
0
0
0
0
0
0
0
0
C
D
Transaction Analysis
Debit
Credit
95,700
12,000
4,400
26,000
18,000
2,600
6,000
(12,000)
(4,400)
5,500
10,000
(6,000)
(5,000)
100,000
(1,000)
100,000
1,600
7,700
(11,000)
99,000
95,700
95,700
E
Balance
12/31/18
95,700
12,000
4,400
26,000
18,000
(6,000)
150,100
5,500
10,000
33,000
48,500
100,000
1,600
$ 150,100
6,000
$
5,500 $
10,000 $
33,000 $
$
$
$
$
$
F
MacBc
Transcribed Image Text:CO
Paste
A10
VAA
VA
V
三三三
==
x ✓ fx
A
B
C
D
Requirement 2
Prepare the James Island Clothing Company Statement of Cash Flows for the six months ended December 31, 2018.
Format cash flows from operating activities by the indirect method. Leave cells blank if not used.
Note: Some of the input cells marked in blue may not require entries.
5
5
7
3
9
_0
.1
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
◄
Calibri (Body)
BIU v
Ready
V
V
Instructions
11
Worksheet
Tlılı
Stmt of Cash Flows
+
Merge & C
E
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education