please use the cell references and use formulas, show me the formulas for each cell. thank you!
K A1 x fix fx The Statement of Cash Flows A B D E F G H I J The Statenlent of Cash Flows Using Excel to prepare the statement of cash flows, indirect method 3 The James Island Clothing Company began operations on July 1, 2018. 5 The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018. 6 7 JAMES ISLAND CLOTHING COMPANY 8 Adjusted Trial Balance 9 12/31/18 10 11 Account Title Balance 12 Debit Credit 13 Cash $ 95,700 14 Accounts Receivable 12,000 15 Inventory 4,400 16 Office Equipment 26,000 17 Truck 18,000 18 Accumulated Depreciation-Plant Assets $ 6,000 19 Accounts Payable 5,500 20 Note Payable-Short Term 10,000 21 Note Payable-Long Term 33,000 22 Common Stock 100,000 23 Retained Earnings 24 Dividends 1,000 25 Sales Revenue 15,000 26 Cost of Goods Sold 3,600 27 Rent Expense 2,000 28 Advertising Expense 800 29 Depreciation Expense 6,000 30 $ 169,500 $ 169,500 31 32 33 Transaction data for 2018 34 Cash paid for purchase of office equipment $ 6,000 35 Cash paid for purchase of truck 5,000 36 Acquisition of plant assets with a long-term notes payable 33,000 37 Cash payment of dividends 1,000 38 Cash receipt from issuance of common stock 100,000 39 Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. 40 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab, you will be marked wrong. Use a minus sign or parentheses for any 41 cash outflows or amounts to be subtracted. . A1 X fx Complete the worksheet for the James Island Clothing Company, filling in E F F G H D 1 Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis olumns. 2 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) 3 Note: Some of the input cells marked in blue may not require entries. Leave the input cells blank that do not require an entry. 4 5 6 Spreadsheet for Statement of Cash Flows 7 8 Balance 9 Panel A-Balance Sheet 7/1/18 Transaction Analysis 10 Debit Credit 11 Cash 12 Accounts Receivable 0 13 Inventory 0 14 Office Equipment 0 Balance 12/31/18 15 Truck 0 0 0 0 0 0 0 16 Accumulated Depreciation-Plant Assets 17 Total 17 Total Assets 18 19 Accounts Payable 20 Note Payable-Short Term 21 Note Payable - Long Term 0 22 Total Liabilities 23 24 Common Stock 25 Retained Earings 26 Total Liabilities and Stockholders' Equity 27 28 Panel B - Statement of Cash Flows 29 Cash Flows from Operating Activities: 30 Net Income 31 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 32 Depreciation Expense - Plant Assets 33 Increase in Accounts Receivable 34 Increase in Inventory 35 Increase in Accounts Payable 36 Increase in Notes Payable-Short-term 37 Net Cash Provided by Operating Activities 38 Cash Flows from Investing Activities: 39 Cash Paid for Acquisition of Plant Assets 40 Net Cash Used for Investing Activities 41 Cash Flows from Financing Activities: 42 Cash Receipt from Issuance of Common Stock 43 Cash Payment of Dividends 44 Net Cash Provided by Financing Activities 45 Net Increase (Decrease) in Cash: 46 Total 47 48 49 50 HINTS 51 C11:E26 Use cell references to appropriate values on Instructions and EN TERASWERS1 worksheets for calculations. 52 E16 Note that accumulated depreciation of plant assets should be a negative value for total assets calculation. 53 C17:017, c22:D22 Do not calculate total assets and liabilities for debit and credit columns. Leave these cells blank. 54 C26:D26 Use the function SUM() to calculate total debit and credit transactions. C30:043 Use an equal sign (=) and the appropriate cells from the spreadsheet for statement of cash flows. Place cash outflows in column C and 55 cash inflows in column D. 56 C32 Depreciation Expense should be entered as a positive value in this cell. 57 D39 Use cell references to the Transaction Data table in Instructions worksheet to calculate cash paid for acquisition of plant assets. C45:045 Calculate the net change in cash using values in Panel B. If there is a decrease in cash, enter it as a negative value in column C. If there is an increase in 58 cash, enter it as a positive value in column D. , 59 A1 fx Prepare the James Island Clothing Company statement of cash flows for the year months ended De A B D E F G H 1 Prepare the James Island Clothing Company statement of cash flows for the year months ended Decenlber 31, 2018. Use the indirect method. 2 Format cash flows from operating activities by the indirect method. Leave cells blank if not used. 3 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) 4 Note: Some of the input cells marked in blue may not require entries. 5 6 7 8 9 10 11 12 13 14 15 16 17 Format as Table 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 HINTS 37 1. For cell references, use an equal sign (=) and the appropriate cells from the Panel B-Statement of Cash Flows in ENTERANSWERS1 worksheet. 2. In Cash Flows from Operating Activities through Cash Flows from Financing Activities sections, enter the amounts in the order of Panel B - 38 Statement of Cash Flows in ENTERANSWERS1 worksheet. 39 3. Use a minus sign in front of the formula to enter appropriate amounts as negative values. 40 4. Use appropriate cells in ENTERANSWERS 2 worksheet to calculate totals and subtotals. 41 5. Refer to the appropriate cell in Spreadsheet for Statement of Cash Flows in ENTERANSWERS 1 worksheet for the cash balance on July 1, 2018. 42
