Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. The James Island Clothing
Question:
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018
Transaction data for 2018
Cash paid for purchase of office equipment ............................................................ $ 6,000
Cash paid for purchase of truck ................................................................................ 5,000
Acquisition of plant assets with a long-term notes payable .................................. 33,000
Cash payment of dividends ........................................................................................ 1,000
Cash receipt from issuance of common stock ......................................................... 100,000
Requirements
1. 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.
2. Prepare the James Island Clothing Company statement of cash flows for the year ended December 31, 2018. Use the indirect method.
Step by Step Answer:
Horngrens Accounting The Managerial Chapters
ISBN: 978-0134486826
12th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura