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Appendix 11B) Using a Spreadsheet to Prepare a Statement of Cash Flows omparative balance sheets for Cincinnati Health Club are presented below. Total assets LIABILITES
Appendix 11B) Using a Spreadsheet to Prepare a Statement of Cash Flows omparative balance sheets for Cincinnati Health Club are presented below. Total assets LIABILITES AND EQUITY Current fiabilities: Accounts payable Salaries payable Income taxes payable Total current liabilities Long-term liabilities: Bonds pavable Total liabilities Equity: Common stock Retained eamings Total equity Total liabilities and equity Additional Information: 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 $9,000 cash. 3. Depreciation expense was $28,000. 4. Bonds payable of $60,000 were issued for cash during the year. 5. Common stock of $40,000 was issued during the year. 6. Cash dividends of $31,100 were dedared 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 flowi. 2. Using your spreadsheet, construct the Statement of Cash Flows below. Assume Cincinnatl Health Club uses the indirect method, Use a minus sign to enter cash outflows. Cash flows from investing activities: Cash flows from financino activities: Cashi.jan.1 Cash, Dec. 31
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