FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Prepare a schedule of net cash provided by operating activities.
- Prepare the Operating Activities Section of a Statement of Cash Flows using the Indirect. ?
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The following information is for FloorCo, Inc. for the year just ended:
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B
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1 The followng information is for FloorCo, Inc. for the year just ended:
3
Beginning of
4
End of year
year
5 Current assets:
Cash
75,000 $
90,000
7.
Accounts receivable
158,000
140,000
8
Inventory
285,000
246,000
9.
Prepaid expenses
11,000
16,000
10
11 Current liabilities
12
Accounts payable
284,000
302,000
13
Accrued liabiities
9,500
11,200
14
Income taxes payable
27,000
24,000
15
16
Net income
2$
94,500
17
18
Accumulated depreciation
19
total credits
45,000
20
21 Floor Company did not record any gains or losses during the year.
22
23 Prepare a schedule of net cash provided by operating activities.
Use the income statement and balance sheet to prepare a statement of cash flows using the indirect method
Prepare a statement of cash flows using the indirect method - Excel
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1 Required:
2 Complete the statement of cash flows (indirect method) shown below by using formulas that reference
3 data from the income statement and balance sheet (found by clicking the tabs at the bottom of this
4 worksheet. Note: Blank cells may be included in calculations.
INNOVATION ELECTRONICS, INC.
Statement of Cash Flows
8.
For the Year Ended December 31, 20X2
9 Cash Flows from Operating Activities:
10 Net income
11 Adjustments to reconcile net income to net cash
12 provided by operating activities:
13 Depreciation expense
14 Gain (on sale of land)
15 Changes in current assets and current liabilities:
16 Accounts receivable
17 Inventory
18 Prepaid insurance
19 Accounts payable
20 Interest payable
21 Income tax payable
22 Net cash provided by (used in) operating activities
23
24 Cash Flows from Investing Activities:
>
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