Question: Our second discussion homework spreadsheet will be using the following information you will find in your textbook. Our goal is to create a WORKING spreadsheot
Our second discussion homework spreadsheet will be using the following information you will find in your textbook. Our goal is to create a WORKING spreadsheot that can be used to display this information in a meaningful manner! You will find this problem in your textbook, it is a PRACTICE problem so the solution is already available in your textbook, what I am grading is your DELIVERY of this information!!! Please read the following problem and create a spreadsheet and attach your results to this thread AND then please read and review the submissions from the other students. What did you think worked well, what types of formatting made the spreadsheet work, and what needs help? Practice Problem 12-40 Prepare statement of cash flows using indirect and direct methods. (LO 2, 4) The income statement for the year ended December 31, 2022, for Kosinski Manufacturing Company contains the following condensed information. The $24,000 loss resulted from selling equipment for $270,000 cash. New equipment was purchased for $750,000 cash. The following balances are reported on Kosinski's comparative balance sheets at December 31 . Income tax expense of $353,000 represents the amount paid in 2022, Dividends declared and paid in 2022 totaled $200,000. Instructions a. Prepare the statement of cash flows using the indirect method. "b. Prepare the statement of cash flows using the direet method
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
