Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need help with statement of cash flows. thank you! Instructions: Using the changes columns and additional information from the adjusted trial balance tab AND the
Need help with statement of cash flows. thank you!
Instructions: Using the "changes columns" and additional information from the adjusted trial balance tab AND the income statement, create a statement of cash flows following the INDIRECT METHOD. Round all amounts to the nearest cent. Follow the below tips The formatting is up to the student. Note that grades are based on organization, formula use, and clarity of financial statement. Other required items: a. Only use accounts that have changes or cash flows b. Include proper report title c. Not all rows or columns need to be used. Formulas MUST be used when necessary. TIPS PLEASE READ: 7 1. Correct selection of "Increase" or "Decrease" in accounts must be used as part of the label where applicable 8 2. Correct use of "cash paid" or "cash recelved" must be used where applicable 9 3. Subtotals for each section MUST be properly identified as cash "used in" or "provided by" 10 4. All changes utilize CASH. There ARE GAINS AND LOSSES from investments that must be included in operating 5. Net change in cash + beginning cash balance (from a adjusted trial balance July 2019 column) must equal ending cash 11 balance and be included at the bottom of this statement. 13 13 14 15 16 17 18 19 20 21 22 23 Instructions: Using the "changes columns" and additional information from the adjusted trial balance tab AND the income statement, create a statement of cash flows following the INDIRECT METHOD. Round all amounts to the nearest cent. Follow the below tips The formatting is up to the student. Note that grades are based on organization, formula use, and clarity of financial statement. Other required items: a. Only use accounts that have changes or cash flows b. Include proper report title c. Not all rows or columns need to be used. Formulas MUST be used when necessary. TIPS PLEASE READ: 7 1. Correct selection of "Increase" or "Decrease" in accounts must be used as part of the label where applicable 8 2. Correct use of "cash paid" or "cash recelved" must be used where applicable 9 3. Subtotals for each section MUST be properly identified as cash "used in" or "provided by" 10 4. All changes utilize CASH. There ARE GAINS AND LOSSES from investments that must be included in operating 5. Net change in cash + beginning cash balance (from a adjusted trial balance July 2019 column) must equal ending cash 11 balance and be included at the bottom of this statement. 13 13 14 15 16 17 18 19 20 21 22 23 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started