Demonstrate that you can use the spreadsheet method of preparing an Indirect Method...

70.2K

Verified Solution

Question

Accounting

Demonstrate that you can use the spreadsheet method of preparing an Indirect Method Cash Flow Statement by completing the file below. The focus of this Excel problem is demonstrating accounting knowledge rather than the application of Excel techniques. The required Excel formulas (which is mostly just adding cells) have already been entered for you.
For every entry you make to explain the change in accounts, the debit amounts must equal the credit amounts. There is a Total calculation in row 57. You may want to check that your totals of the debit and credit columns match after you complete each transaction. Most transactions (but not all) will have one entry (either debit or credit) on the Balance Sheet and the other entry on the Cash Flow Statement. Don't overlook the Non-Cash Investing and Financing Activities section at the bottom of the sheet.
I have locked cells in the files that contain the given information and the formulas I input so you do not accidently overwrite them.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students