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(Appendix 11B) Using a Spreadsheet to Prepare a Statement of Cash Flows Comparative balance sheets for Cincinnati Health Club are presented below. Additional Information: 1.
(Appendix 11B) Using a Spreadsheet to Prepare a Statement of Cash Flows Comparative balance sheets for Cincinnati Health Club are presented below. Additional Information: 1. Cincinnati Health Club reported net income of $2,700 for the year. 2. No buildings or equipment were sold during the year. Equipment was purchased for $10,000cash. 3. Depreciation expense was $29,000. 4. Bonds payable of $50,000 were issued for cash during the year: 5. Common stock of $40.000 was issued durina the veari 3. Depreciation expense was $29,000. 4. Bonds payable of $50,000 were issued for cash during the year. 5. Common stock of $40,000 was issued during the year. 6. Cash dividends of $20,900 were declared and paid during the year. Required: 1. Using the data above and Exhibit 10 as a guide, create a spreadsheet to prepare a statement of cash flows. 2. Using your spreadsheet, construct the Statement of Cash Flows below. Assume Cincinnati Health Club uses the indirect method. Use a minus sign to enter cash outflows. Cash flows from investing activities? Adjustments to reconcile net income to net cash flow from operating activities: Cash flows from investing activities: Cash flows from financing activities: Cash, Jan. 1 Cash. Dec. 31 Fash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: ash flows from investing activities: ash flows from financing activities: Cash flows from financing activities: Cash flows from investing activities
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