Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You will complete Problem 16-4B from the file above. You will prepare a Statement of Cash Flows in good form and professional in appearance using

image text in transcribed

You will complete Problem 16-4B from the file above. You will prepare a Statement of Cash Flows in good form and professional in appearance using Excel. Formulas and cell referencing are required.

Two Excel Files, one with the professional Statement of Cash Flows in good form, the second file will be the same Statement of Cash Flows with "show formulas" turned on.

Proble 16-48 Indirect: Statement of cash flows P1 P2 P3 Satu Company, a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory., (5) Other Expenses are cash expenses, and (6) any change in lncome Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow. SATU COMPANY Comparative Balance Sheets December 31,2013 and 2012 2013 2012 Assets $58,750 $ 28,400 25,860 165,667. 140,320 77,500 (46,700)31,000) ...$305,689$241,080 Cash 20,222 SATU COMPANY Incoie Statement For Year Ended December 312013 107,750 pment...- $750,800 269,200 481,600 Total assets Liabllitles and Equity Accounts payable Income taxes payablei. Cost of goods sold .. . $ 20.372 $157.530 6,100 25,000 Operating expenses 2,100 40,000 189,633 291,967 89,200 $202,767 Pald-In capital In excess 68,000 175,217 20,000 32,450 .. Income before taxes .. Income taxes expense.... of par, common stock Retained earnings . ...-. Additional Information on Year 2013 Transactions a. Purchased equipment for $30,250 cash b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practitioners Guide To Business Impact Analysis Internal Audit And IT Audit

Authors: Priti Sikdar

1st Edition

036756792X, 978-0367567927

More Books

Students also viewed these Accounting questions