Homework Help is Here – Start Your Trial Now!
Business
Accounting
Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $105,000. b. Dividends of $90,000 cash were declared and paid. c. The only noncash expense was $75,000 of depreciation. d. Purchased plant assets for $95,000 cash. e. Notes payable of $25,000 were issued for $25,000 cash. f. $55,000 increase in accounts receivable. g. $35,000 decrease in inventory. h. $15,000 decrease in accounts payable. Balance Sheet-Debit Balance Accounts Cash Accounts receivable Inventory Plant assets Balance Sheet-Credit Balance Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Investing activities Financing activities December 31, 2020 $ $ S $ 95,000 125,000 260,000 605,000 1,085,000 105,000 160,000 375,000 205,000 240,000 1,085,000 $ Analysis of Changes Debit Credit 0 $ 0 + December 31, 2021 $ $ $ $ 80,000 180,000 225,000 700,000 1,185,000 180,000 145,000 w 400,000 205,000 255,000 1,185,000

Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $105,000. b. Dividends of $90,000 cash were declared and paid. c. The only noncash expense was $75,000 of depreciation. d. Purchased plant assets for $95,000 cash. e. Notes payable of $25,000 were issued for $25,000 cash. f. $55,000 increase in accounts receivable. g. $35,000 decrease in inventory. h. $15,000 decrease in accounts payable. Balance Sheet-Debit Balance Accounts Cash Accounts receivable Inventory Plant assets Balance Sheet-Credit Balance Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Investing activities Financing activities December 31, 2020 $ $ S $ 95,000 125,000 260,000 605,000 1,085,000 105,000 160,000 375,000 205,000 240,000 1,085,000 $ Analysis of Changes Debit Credit 0 $ 0 + December 31, 2021 $ $ $ $ 80,000 180,000 225,000 700,000 1,185,000 180,000 145,000 w 400,000 205,000 255,000 1,185,000

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 14M
See similar textbooks
icon
Related questions
Question
100%
Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $105,000. b. Dividends of $90,000 cash were declared and paid. c. The only noncash expense was $75,000 of depreciation. d. Purchased plant assets for $95,000 cash. e. Notes payable of $25,000 were issued for $25,000 cash. f. $55,000 increase in accounts receivable. g. $35,000 decrease in inventory. h. $15,000 decrease in accounts payable. Balance Sheet-Debit Balance Accounts Cash Accounts receivable Inventory Plant assets Balance Sheet-Credit Balance Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Investing activities Financing activities December 31, 2020 $ S S $ 95,000 125,000 260,000 605,000 1,085,000 105,000 160,000 375,000 205,000 240,000 1,085,000 $ Analysis of Changes Debit Credit 0 $ 0 + December 31, 2021 $ $ $ 80,000 180,000 225,000 700,000 1,185,000 180,000 145,000 400,000 205,000 255,000 $ 1,185,000
Transcribed Image Text:Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $105,000. b. Dividends of $90,000 cash were declared and paid. c. The only noncash expense was $75,000 of depreciation. d. Purchased plant assets for $95,000 cash. e. Notes payable of $25,000 were issued for $25,000 cash. f. $55,000 increase in accounts receivable. g. $35,000 decrease in inventory. h. $15,000 decrease in accounts payable. Balance Sheet-Debit Balance Accounts Cash Accounts receivable Inventory Plant assets Balance Sheet-Credit Balance Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Investing activities Financing activities December 31, 2020 $ S S $ 95,000 125,000 260,000 605,000 1,085,000 105,000 160,000 375,000 205,000 240,000 1,085,000 $ Analysis of Changes Debit Credit 0 $ 0 + December 31, 2021 $ $ $ 80,000 180,000 225,000 700,000 1,185,000 180,000 145,000 400,000 205,000 255,000 $ 1,185,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS