NSU COMBO F/INTERM.ACCTG-CONNECT ACCESS
10th Edition
ISBN: 9781266020193
Author: SPICELAND
Publisher: MCG
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Using the attached image.
Prepare a complete statement of cash flows for December 2021 using the indirect method based on the information and guidance provided above.
Required:
a. Calculate:
Cash receipts from customers.
Cash payments for operating expenses.
b. Prepare the operating activities section of the statement of cash flows for 2020.
a. Recreate the income statement and balance sheet using formulas wherever possible. Each statement should be on a separate worksheet. Try to duplicate the formatting exactly.
b. On another worksheet, create a statement of cash flows for 2020. Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets.
C. Using Excel's outlining feature, create an outline on the statement of cash flows that, when collapsed, shows only the subtotals for each section.
d. Suppose that sales were $425,000 in 2020 rather than $412,500. What is the 2020 net income and retained earnings?
e. Undo the changes from part d, and change the tax rate to 20%. What is the 2020 net income and retained earnings?
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- Using the data from questions in the picture, prepare the operating section of the statement of cash flows using the direct method.arrow_forwardPrepare a cash flow statement (indirect method) from the given information. please include explanation for each step/line itemarrow_forwardDiscuss arguments supporting the need for improving the Statement of Cash Flows(SCF). What suggestions do Broom and the authors of the text make regarding improvement?arrow_forward
- Explain the purpose of SFAC No. 7: “Using Cash Flow Information and Present Valuein Accounting Measurements.arrow_forwardPrepare the statement of cash flows in good form usingINDIRECT METHOD. Be sure to provide a proper heading for thestatement. Thank you.arrow_forwardWhat accounts on the balance sheet must be evaluated when completing the financing activities section of the statement of cash flows?arrow_forward
- PLEASE SHOW APPRIPRAITE FORMULA THAT NEEDS TO BE INSERTED COMPLETE THE STATEMENT OF CASHFLOWS(INDERECT METHOD) BY REFEREING TO THE TWO IMAGES PRESENTEDarrow_forwardPrepare a complete statement of cash flows for October 2021 using the indirect method based on the information and guidance provided above.arrow_forwardUsing the financial statements and additional information below, construct an indirect cash flow statement in Excel for year 4. As long as you are following general cash flow formatting rules (e.g. operating section, investing section, financing section), you can format it as you see fit. Remember that these reports should be clean, easy to read and understand, and useful for decision-making purposes.arrow_forward
- Explain the difference between the two methods used to prepare the operating section of the statement of cash flows. How do the results of these two approaches compare?arrow_forwardPlease answer all of the following questions and kindly type it out if possible so I can easily understand. I have attached two pictures with the information to complete the questions. Thank You :) As part of your analysis, you are required to investigate WITCO’s cash flows. (a)Using the financial statements and additional notes provided, calculate the following for 2020: i. Operating Cash Flow ii. Net Capital Spending iii. Change in Net Working Capital iv. Cash Flow from assets v. Cash Flow to creditors vi. Cash Flow to stockholders (b) Prepare WITCO’s Statement of Cash Flow for the year ended December 31, 2020. (c)What is the purpose and importanceof the Cash Flow Statement?arrow_forwardIdentify the section of the statement of cash flows (a–d) where each of the following items would be reported.a. Operating activitiesb. Financing activitiesc. Investing activitiesd. Schedule of noncash financing and investing Increase in income taxes payable Where does this will be on the cash flow statement ?arrow_forward
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