The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018 appears below, along with transaction
The James Island Clothing Company began operations on July 1, 2018.
The adjusted trial balance as of December 31, 2018 appears below, along with transaction data for 2018.
The rest and entirety of the instructions are in the screenshots below. PLEASE HELP and show me how you got the answers that you did, thank you
B D E F G G H I J J K L M N 0 P Q Q R S S A 1 Chapter 14 2 Using Excel 3 P14-46 Using Excel to prepare the statement of cash flows, indirect method The James Island Clothing Company began operations on July 1, 2018. 6 The adjusted trial balance as of December 31, 2018 appears below, along with transaction data for 2018. 7 8 THE JAMES ISLAND CLOTHING COMPANY 9 Worksheet 10 12/31/18 11 12 Account Title Adjusted Trial Balance 13 Debit Credit 14 Cash $ 95,700 15 Accounts Receivable 12,000 16 Inventory 4,400 17 Office Equipment 26,000 18 Truck 18,000 19 Accumulated Depreciation-Plant Assets $ 6,000 20 Accounts Payable 5,500 21 Note Payable-Short Term 10,000 22 Note Payable-Long Term 33,000 23 Common Stock 100,000 24 Retained Earnings 25 Dividends 1,000 26 Sales Revenue 15,000 27 Cost of Goods Sold 3,600 28 Rent Expense 2,000 29 Advertising Expense 800 30 Depreciation Expense 6,000 31 $ 169,500 $ 169,500 32 33 34 Transaction Data for 2018 35 Cash paid for purchase of office equipment $ 6,000 36 Cash paid for purchase of truck 37 Acquisition of Property, Plant, and Equipment with Notes Payable-Long-term 33,000 38 Cash payment of dividends 1,000 39 Cash receipt from issuance of common stock 100,000 40 41 42 Requirements: 43 1. Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. ... Instructions Worksheet Stmt of Cash Flows + 5,000 F H I J K L M N 0 P QR S 33,000 A B C D E 31 $ 169,500 $ 169,500 32 33 34 Transaction Data for 2018 35 Cash paid for purchase of office equipment $ 6,000 36 Cash paid for purchase of truck 5,000 37 Acquisition of Property, plant, and Equipment with Notes Payable--Long-term 38 Cash payment of dividends 1,000 39 Cash receipt from issuance of common stock 100,000 40 41 42 Requirements: 43 1. Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. 44 Note: Some of the input cells marked in blue may not require entries. 45 46 2. Prepare the James Island Clothing Company statement of cash flows for the six months ended December 31, 2018. Use the indirect method. 47 Note: Some of the input cells marked in blue may not require entries. 48 Excel Skills: 49 1. Use cell references in formulas. 50 2. Format cells with comma format, dollar format, and underlines as appropriate, , . 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 Instructions Worksheet Stmt of Cash Flows + A B D E F G H H I K L . N 0 Q R 1 Requirement 1 2 Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. 3 Note: Some of the input cells marked in blue may not require entries. 4 Spreadsheet for Statement of Cash Flows 5 6 7 8 Balance 7/1/18 Balance 12/31/18 Transaction Analysis Debit Credit $ $ 0 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 $ 9 Panel A -Balance Sheet 10 11 Cash 12 Accounts Receivable 13 Inventory 14 Office Equipment 15 Truck 16 Accumulated Depreciation-Plant Assets 17 Total Assets 18 19 Accounts Payable 20 Note Payable-Short Term 21 Note Payable-Long Term 22 Total Liabilities 23 24 Common Stock 25 Retained Earnings 26 Total Liabilities and Stockholders' Equity 27 28 29 Panel B-Statement of Cash Flows 30 Cash Flows from Operating Activities: 31 Net Income 32 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 33 Depreciation Expense - Plant Assets 34 Increase in Accounts Receivable 35 Increase in Inventory 36 Increase in Accounts Payable 37 Increase in Notes Payable-Short-term 38 Net Cash Provided by Operating Activities 39 Cash Flows from Investing Activities: 40 Cash Paid for Acquisition of Plant Assets 41 Net Cash Used for Investing Activities 42 Cash Flows from Financing Activities: 43 Cash Receipt from Issuance of Common Stock Instructions Worksheet Stmt of Cash Flows + A B D E F G H H I K K L . N 0 Q R 0 0 0 0 S 0 21 Note Payable - Long Term 22 Total Liabilities 23 24 Common Stock 25 Retained Earnings 26 Total Liabilities and Stockholders' Equity 27 28 29 Panel B-Statement of Cash Flows 30 Cash Flows from Operating Activities: 31 Net Income 32 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 33 Depreciation Expense - Plant Assets 34 Increase in Accounts Receivable 35 Increase in Inventory 36 Increase in Accounts Payable 37 Increase in Notes Payable-Short-term 38 Net Cash Provided by Operating Activities 39 Cash Flows from Investing Activities: 40 Cash Paid for Acquisition of Plant Assets 41 Net Cash Used for Investing Activities 42 Cash Flows from Financing Activities: 43 Cash Receipt from Issuance of Common Stock 44 Cash Payment of Dividends 45 Net Cash Provided by Financing Activities 46 Net Increase (Decrease) in Cash: 47 Total 48 20 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 Instructions Worksheet Stmt of Cash Flows + D E F G H J K L M N 0 P Q R S 1 Requirement 2 2 Prepare the James Island Clothing Company Statement of Cash Flows for the six months ended December 31, 2018. 3 Format cash flows from operating activities by the indirect method. Leave cells blank if not used. 4 Note: Some of the input cells marked in blue may not require entries. 4 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Instructions Worksheet Stmt of Cash Flows +
