Statement of cash flow – Spreadsheet method Statement of cash flows : It is one of the financial statement that shows the cash and cash equivalents of a company for a particular period. It determines the net changes in cash through reporting the sources and uses of cash due to the operating, investing, and financing activities of a company. Spreadsheet method: The statement of cash flows also can be prepared as a spreadsheet. The spreadsheet for the statement of cash flow starts with the beginning balance and ends with the ending balances of accounts of the balances sheet. The spread includes two extra columns between the ending and beginning balance columns. One column is for debit and other for credit balance. To Prepare: Statement of cash flows using the spreadsheet in indirect method.

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 14, Problem 14.38AP

To determine

Statement of cash flow – Spreadsheet method

Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalents of a company for a particular period. It determines the net changes in cash through reporting the sources and uses of cash due to the operating, investing, and financing activities of a company.

Spreadsheet method:

The statement of cash flows also can be prepared as a spreadsheet.

The spreadsheet for the statement of cash flow starts with the beginning balance and ends with the ending balances of accounts of the balances sheet.

The spread includes two extra columns between the ending and beginning balance columns. One column is for debit and other for credit balance.

To Prepare: Statement of cash flows using the spreadsheet in indirect method.

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Your firm has been the auditor of Caribild Products, a listed company, for a number of years. The engagement partner has asked you to describe the matters you would consider when planning the audit for the year ended 31January 2022.During recent visit to the company you obtained the following information:(a) The management accounts for the 10 months to 30 November 2021 show a revenue of $260 million andprofit before tax of $8 million. Assume sales and profits accrue evenly throughout the year. In the yearended 31 January 2021 Caribild Products had sales of $220 million and profit before tax of $16 million.(b) The company installed a new computerised inventory control system which has operated from 1 June 2021. As the inventory control system records inventory movements and current inventory quantities, thecompany is proposing:(i) To use the inventory quantities on the computer to value the inventory at the year-end(ii) Not to carry out an inventory count at the year-end(c) You are…

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 14, Problem 14.38AP

To determine

Statement of cash flow – Spreadsheet method

Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalents of a company for a particular period. It determines the net changes in cash through reporting the sources and uses of cash due to the operating, investing, and financing activities of a company.

Spreadsheet method:

The statement of cash flows also can be prepared as a spreadsheet.

The spreadsheet for the statement of cash flow starts with the beginning balance and ends with the ending balances of accounts of the balances sheet.

The spread includes two extra columns between the ending and beginning balance columns. One column is for debit and other for credit balance.

To Prepare: Statement of cash flows using the spreadsheet in indirect method.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 14, Problem 14.38AP

To determine

Statement of cash flow – Spreadsheet method

Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalents of a company for a particular period. It determines the net changes in cash through reporting the sources and uses of cash due to the operating, investing, and financing activities of a company.

Spreadsheet method:

The statement of cash flows also can be prepared as a spreadsheet.

The spreadsheet for the statement of cash flow starts with the beginning balance and ends with the ending balances of accounts of the balances sheet.

The spread includes two extra columns between the ending and beginning balance columns. One column is for debit and other for credit balance.

To Prepare: Statement of cash flows using the spreadsheet in indirect method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 14, Problem 14.38AP

To determine