Question

Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Prepare the spreadsheet as in Exhibit 16A.1; report operating activities under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following transactions and events a through h.


a. Net income for the year was $ 100,000.
b. Dividends of $ 80,000 cash were declared and paid.
c. Scoreteck’s only noncash expense was $ 70,000 of depreciation.
d. The company purchased plant assets for $ 70,000 cash.
e. Notes payable of $ 20,000 were issued for $ 20,000 cash.
f. Change in accounts receivable.
g. Change in merchandise inventory.
h. Change in accountspayable.


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  • CreatedNovember 26, 2013
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