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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 $

FINANCIAL ACCOUNTING
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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Not sure how to complete requirement 2 (statement of cash flows)
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: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
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
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
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