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Please help with the answers so I can understand better Instructions for the Microsoft Excel Templates Be advised - The workbooks and sheets are not
Please help with the answers so I can understand better
Instructions for the Microsoft Excel Templates Be advised - The workbooks and sheets are not protected. Typing over information may result in the loss of that information. Detail and information on Excel is contained within the manual. Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of several help menus. Type your NAME into the cell "C2". This will be copied by formula to the rest of the pages as required. Type the COURSE & SECTION identifier into cell "C3". This will be copied by formula to the rest of the pages as required. Type the DUE DATE of your problem into cell "C4". This will be copied by formula to the rest of the pages as required. The PROBLEM is identified for you in cell "B5". In "DATE" cells enter the date in any of several formats and Excel will format it correctly. If more than one page is preformatted into the problem, page breaks are preset and formulas are set to copy the header into the remaining pages. Place the proper account title in the cell where the word "Account" appears on the template. Place the amount in the cell where the word "Amount" appears on the template. A formula may be placed in some of these cells. Enter a number like 914 to signify units or gallons where the word "Number" appears. Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated outside of Excel can be entered into Excel if desired. Place the explanation for the entry in the cell where the word "Explanation" appears on the template. Insert the account number where "Acct #" appears on the template during posting. Insert the journal reference where "Journ #" appears on the template during posting. Insert the title in the cell where "Title" appears on the template. The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required. The gray filled cells define the perimeter of the problem and the print area. The problem is formatted for whole dollars with comma separations (no cents) except where required. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. Name: Course: Date: P6-5 - Preparation and Analysis of Statement of Cash Flows Intermediate Accounting, Second Edition by Warfield, Weygandt, and Kieso Solving Intermediate Accounting Problems Using Microsoft Excel for Windows Templates by Rex A Schildhouse P6-5 (Preparation and Analysis of Statement of Cash Flows) Here are the financial statements of YoYo Company. Assets Cash Accounts receivable Merchandise inventory Property, plant, and equipment Less: Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total YoYo Company Comparative Balance Sheets December 31 2008 $26,000 28,000 38,000 $70,000 (27,000) 43,000 $135,000 2007 $33,000 14,000 25,000 $78,000 (24,000) $31,000 26,000 20,000 25,000 33,000 $135,000 54,000 $126,000 $43,000 20,000 10,000 25,000 28,000 $126,000 YoYo Company Income Statement For the Year Ended December 31, 2008 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $286,000 194,000 92,000 $28,000 9,000 37,000 55,000 7,000 48,000 7,000 $41,000 Additional data: 1. Dividends of $36,000 were declared and paid. 2. During the year equipment was sold for $10,000 cash. This equipment cost originally and had a book value of $10,000 at the time of sale. 3. All depreciation expense, $8,000 , is in the selling expense category. 4. All sales and purchases are on account. 5. Additional equipment was purchased for $7,000 cash. Instructions: (a) Prepare a statement of cash flows using the indirect method. YOYO COMPANY Statement of Cash Flows For the Year Ended December 31, 2008 Cash flows from operating activities Title Amount Adjustments to reconcile NI to net cash provided by operating activities Title Amount Title Amount Title Amount Title Amount Title Amount Formula Title Formula Cash flows from investing activities Title Title Title Cash flows from financing activities Title Title Title Title Title Title Amount Amount Formula Amount Amount Formula Formula Amount Formula $15,000 Name: Course: Date: P6-5 - Preparation and Analysis of Statement of Cash Flows (b)(1) Compute the current cash debt coverage ratio. Current cash debt coverage ratio = Text - Title Text - Title Current cash debt coverage ratio = Amount Formula Current cash debt coverage ratio = Formula (b)(2) Compute the cash debt coverage ratio. Cash debt coverage ratio Text - Title Text - Title Cash debt coverage ratio Amount Formula Cash debt coverage ratio Formula (b)(3) Compute the free cash flow. Free cash flow = Text - Title - Text - Title - Text - Title Free cash flow = Amount - Amount - Amount Free cash flow = FormulaStep by Step Solution
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