Expert answer:Statement of cash flow

Expert answer:Excel worksheet about statement of cash flow, one worksheet and three companies. Accounting class
acct115l_project09_template.xlsx

balancesheetandincomestatement_chestnutcompany.pdf

balancesheetandincomestatement_oakinc.pdf

balancesheetandincomestatement_spruceenterprises__1_.pdf

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Spruce Enterprises
Statement of Cash Flows
For the Year Ended
Cash flows from operating activities:
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustments for noncash income effects:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current assets:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current liabilities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by operating activities . . . . . . . .
Enter company name.
Enter report date.
Complete the statement. See the instructions and income statement and balance sheet
$
–
–
–
–
–
–
Cash flows from financing activities:
………………………………………..
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by financing activities . . . . . . . .
–
Net increase (decrease) in cash . . . . . . . . . . . . . . . . . . . .
Beginning cash balance . . . . . . . . . . . . . . . . . . . . . . . . . .
Ending cash balance . . . . . . . . . . . . . . . . . . . . . . . . . . . .
information provided separately.
–
$
Cash flows from investing activities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by investing activities . . . . . . . . .
$
–
–
$
–
$
Note: The net increase (decrease) in cash should be calculated by subtracting beginning
cash balance from ending cash balance.
Be careful to properly complete the footers, in accordance with the provided instructions.
The print area/range should include only the unshaded area.
Check number $
–
OK
The amount to the left should be the sum of the net cash flows from Operating, Investing
and Financing activities and should equal the net increase (decrease) in cash that was
calculated above.
The cell to the left will display “OK” if the sum of the net cash flows from Operating,
Investing and Financing activities equals the net increase or decrease in cash as
determined by the difference between the beginning and ending cash balances. It will
display “ERROR” if the two amounts do not equal.

Oak, Inc
Statement of Cash Flows
For the Year Ended
Cash flows from operating activities:
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustments for noncash income effects:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current assets:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current liabilities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by operating activities . . . . . . . .
Enter company name.
Enter report date.
Complete the statement. See the instructions and income statement and balance sheet
$
–
–
–
–
–
–
Cash flows from financing activities:
………………………………………..
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by financing activities . . . . . . . .
–
Net increase (decrease) in cash . . . . . . . . . . . . . . . . . . . .
Beginning cash balance . . . . . . . . . . . . . . . . . . . . . . . . . .
Ending cash balance . . . . . . . . . . . . . . . . . . . . . . . . . . . .
information provided separately.
–
$
Cash flows from investing activities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by investing activities . . . . . . . . .
$
–
–
$
–
$
Note: The net increase (decrease) in cash should be calculated by subtracting beginning
cash balance from ending cash balance.
Be careful to properly complete the footers, in accordance with the provided instructions.
The print area/range should include only the unshaded area.
Check number $
–
OK
The amount to the left should be the sum of the net cash flows from Operating, Investing
and Financing activities and should equal the net increase (decrease) in cash that was
calculated above.
The cell to the left will display “OK” if the sum of the net cash flows from Operating,
Investing and Financing activities equals the net increase or decrease in cash as
determined by the difference between the beginning and ending cash balances. It will
display “ERROR” if the two amounts do not equal.

Chestnut Company
Statement of Cash Flows
For the Year Ended
Cash flows from operating activities:
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustments for noncash income effects:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current assets:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Changes in current liabilities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by operating activities . . . . . . . .
Enter company name.
Enter report date.
Complete the statement. See the instructions and income statement and balance sheet
$
–
–
–
–
–
–
Cash flows from financing activities:
………………………………………..
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by financing activities . . . . . . . .
–
Net increase (decrease) in cash . . . . . . . . . . . . . . . . . . . .
Beginning cash balance . . . . . . . . . . . . . . . . . . . . . . . . . .
Ending cash balance . . . . . . . . . . . . . . . . . . . . . . . . . . . .
information provided separately.
–
$
Cash flows from investing activities:
………………………………………..
$
………………………………………..
………………………………………..
………………………………………..
………………………………………..
Net cash provided/used by investing activities . . . . . . . . .
$
–
–
$
–
$
Note: The net increase (decrease) in cash should be calculated by subtracting beginning
cash balance from ending cash balance.
Be careful to properly complete the footers, in accordance with the provided instructions.
The print area/range should include only the unshaded area.
Check number $
–
OK
The amount to the left should be the sum of the net cash flows from Operating, Investing
and Financing activities and should equal the net increase (decrease) in cash that was
calculated above.
The cell to the left will display “OK” if the sum of the net cash flows from Operating,
Investing and Financing activities equals the net increase or decrease in cash as
determined by the difference between the beginning and ending cash balances. It will
display “ERROR” if the two amounts do not equal.

King’s College
Fall 2017
ACCT115L, Project 09
Balance Sheet and Income Statement Information Required to Complete Statement of Cash Flows
[Note: To complete the project, see the instructions that were separately provided.]
Chestnut Company
Balance Sheet
As of December 31, 2016 and 2017
Chestnut Company
Income Statement
For the Year Ended December 31, 2017
2017
Assets:
Current Assets:
Cash and Cash Equivalents . . . . . . . . .
Accounts Receivable (net) . . . . . . . . . . . .
Inventory . . . . . . . . . . . . . . . . . . . . . . .
Prepaid Expenses . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
Property, Plant and Equipment:
Equipment . . . . . . . . . . . . . . . . . . . . . . .
Buildings and Land . . . . . . . . . . . . . . . .
Less: Accumulated Depreciation . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
$
2016
12,500 $
88,000
99,000
7,500
207,000 $
13,000
77,000
87,000
5,000
182,000
$
172,000 $
69,000
(113,000)
128,000 $
161,000
66,000
(102,000)
125,000
$
335,000
307,000
$
$
2017
Revenue and Gross Profit:
Sales Revenue, net . . . . . . . . . . . .
Cost of Goods Sold . . . . . . . . . . . .
Gross Profit . . . . . . . . . . . . . . . . .
Operating Expenses:
Admin. Salaries and Wages . . . . . .
Selling Expenses . . . . . . . . . . . . . .
Utilities . . . . . . . . . . . . . . . . . . . . .
Depreciation Expense . . . . . . . . . .
Travel, Interest, and Other Exp. . .
Total Operating Expenses . . . .
Net Operating Income . . . . . . . . .
Total Assets . . . . . . . . . . . . . . . . . . . . .
$
$
$
$
575,000
450,000
125,000
$
31,000
29,300
12,000
15,000
7,700
95,000
$
30,000
500
Gain on sale of equipment . . . . . .
Current Liabilities:
Accounts Payable . . . . . . . . . . . . . . . . .
Income Tax Payable . . . . . . . . . . . . . . .
Wages Payable . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . .
$
$
62,500 $
5,000
8,500
76,000 $
68,000
11,000
6,000
85,000
$
Net Income before income taxes
(12,500)
Income tax expense . . . . . . . . . . .
Net income . . . . . . . . . . . . . . . . . . .
Long-Term
Liabilities:
Notes Payable . . . . . . . . . . . . . . . . . . .
$
Total Liabilities . . . . . . . . . . . . . . . . . .
$
131,000
$
125,000
$
36,000 $
10,000
158,000
26,000
10,000
146,000
Owners’ Equity:
Common Stock . . . . . . . . . . . . . . . . . . .
Additional Paid-in Capital . . . . . . . . . . .
Retained Earnings . . . . . . . . . . . . . . . .
55,000 $
40,000
Total Owners’ Equity . . . . . . . . . . . . .
$
204,000
$
182,000
Total Liabilities and Owners’ Equity
$
335,000
$
307,000
30,500
$
18,000
Additional information relating to transactions that
occurred during 2017:
Sold equipment that had an original cost of $4,000
and a book value of $0, for $500 cash.
Acquired equipment costing $15,000, paying for it by
the issuance of a long-term note.
Purchased a parcel of land for $3,000 cash.
Issued 10,000 shares of common stock, par value $1.00
per share, for cash, no premium.
Paid dividends totaling $6,000 during the year.
R. Schwanger
November 20, 2017
King’s College
Fall 2017
ACCT115L, Project 09
Balance Sheet and Income Statement Information Required to Complete Statement of Cash Flows
[Note: To complete the project, see the instructions that were separately provided.]
Oak, Inc.
Balance Sheet
As of December 31, 2016 and 2017
Oak, Inc.
Income Statement
For the Year Ended December 31, 2017
2017
Assets:
Current Assets:
Cash and Cash Equivalents . . . . . . . . .
Accounts Receivable (net) . . . . . . . . . . . .
Inventory . . . . . . . . . . . . . . . . . . . . . . .
Prepaid Rentals . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
Property, Plant and Equipment:
Equipment . . . . . . . . . . . . . . . . . . . . . . .
Buildings and Land . . . . . . . . . . . . . . . .
Less: Accumulated Depreciation . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
Total Assets . . . . . . . . . . . . . . . . . . . . .
$
$
$
4,500
39,200
70,000
5,000
118,700
2016
$
$
5,500
44,000
55,000
10,000
114,500
$
31,500 $
342,800
(123,000)
251,300 $
36,200
342,800
(104,500)
274,500
$
370,000
389,000
$
2017
Revenue and Gross Profit:
Sales Revenue, net . . . . . . . . . . . .
Cost of Goods Sold . . . . . . . . . . . .
Gross Profit . . . . . . . . . . . . . . . . .
$
$
412,500
225,000
187,500
Operating Expenses:
Admin. Salaries and Wages . . . . . .
Selling Expenses . . . . . . . . . . . . . .
Utilities . . . . . . . . . . . . . . . . . . . . .
Depreciation Expense . . . . . . . . . .
Travel, Interest, and Other Exp. . .
Total Operating Expenses . . . .
$
22,500
40,000
12,000
22,500
9,700
106,700
Net Operating Income . . . . . . . . .
$
80,800
$
(400)
Loss on sale of equipment . . . . . .
Current Liabilities:
Accounts Payable . . . . . . . . . . . . . . . . .
Income Tax Payable . . . . . . . . . . . . . . .
Wages Payable . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . .
$
$
40,000 $
15,000
5,000
60,000 $
53,100
12,500
9,900
75,500
$
Net Income before income taxes
80,400
(28,000)
Income tax expense . . . . . . . . . . .
Net income . . . . . . . . . . . . . . . . . . .
$
52,400
Long-Term
Liabilities:
Notes Payable . . . . . . . . . . . . . . . . . . .
$
15,000 $
Total Liabilities . . . . . . . . . . . . . . . . . .
$
75,000
$
170,500
Sold equipment that had an original cost of $4,700
and a book value of $700, for $300 cash.
$
145,000
60,000
90,000
$
120,000
40,000
58,500
Paid off note payable of $80,000 on December 1, 2017.
295,000
$
Owners’ Equity:
Common Stock . . . . . . . . . . . . . . . . . . .
Additional Paid-in Capital . . . . . . . . . . .
Retained Earnings . . . . . . . . . . . . . . . .
Total Owners’ Equity . . . . . . . . . . . . .
$
95,000
Additional information relating to transactions that
occurred during 2017:
Issued 25,000 shares of common stock, par value $1.00
per share, for $45,000 cash, including premium.
218,500
Paid dividends totaling $20,900 during the year.
Total Liabilities and Owners’ Equity
$
370,000
$
389,000
R. Schwanger
November 20, 2017
King’s College
Fall 2017
ACCT115L, Project 09
Balance Sheet and Income Statement Information Required to Complete Statement of Cash Flows
[Note: To complete the project, see the instructions that were separately provided.]
Spruce Enterprises
Balance Sheet
As of December 31, 2016 and 2017
Spruce Enterprises
Income Statement
For the Year Ended December 31, 2017
2017
Assets:
Current Assets:
Cash and Cash Equivalents . . . . . . . . .
Accounts Receivable (net) . . . . . . . . . . . .
Inventory . . . . . . . . . . . . . . . . . . . . . . .
Prepaid Insurance . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
Property, Plant and Equipment:
Equipment . . . . . . . . . . . . . . . . . . . . . . .
Buildings and Land . . . . . . . . . . . . . . . .
Less: Accumulated Depreciation . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . .
Total Assets . . . . . . . . . . . . . . . . . . . . .
$
2016
25,000 $
19,000
52,000
7,000
103,000 $
12,980
22,600
49,000
4,100
88,680
$
31,500 $
385,500
(111,800)
305,200 $
36,200
385,500
(104,500)
317,200
$
408,200
405,880
$
$
$
2017
Revenue and Gross Profit:
Sales Revenue, net . . . . . . . . . . . .
Cost of Goods Sold . . . . . . . . . . . .
Gross Profit . . . . . . . . . . . . . . . . .
$
$
500,000
220,000
280,000
Operating Expenses:
Admin. Salaries and Wages . . . . . .
Selling Expenses . . . . . . . . . . . . . .
Utilities . . . . . . . . . . . . . . . . . . . . .
Depreciation Expense . . . . . . . . . .
Travel, Interest, and Other Exp. . .
Total Operating Expenses . . . .
$
54,400
50,000
19,000
12,000
15,000
150,400
Net Operating Income . . . . . . . . .
$
129,600
$
3,300
Gain on sale of equipment . . . . . .
Current Liabilities:
Accounts Payable . . . . . . . . . . . . . . . . .
Income Tax Payable . . . . . . . . . . . . . . .
Wages Payable . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . .
$
$
43,000 $
8,520
13,000
64,520 $
29,850
13,350
12,000
55,200
$
Net Income before income taxes
132,900
(39,900)
Income tax expense . . . . . . . . . . .
Net income . . . . . . . . . . . . . . . . . . .
$
93,000
Long-Term
Liabilities:
Notes Payable . . . . . . . . . . . . . . . . . . .
$
20,000
$
120,000
Total Liabilities . . . . . . . . . . . . . . . . . .
$
84,520
$
175,200
Sold equipment that had an original cost of $4,700
and a book value of $0, for $3,300 cash.
80,000 $
60,000
183,680
55,000
40,000
135,680
Paid off note payable of $100,000 on December 1, 2017.
323,680
230,680
Owners’ Equity:
Common Stock . . . . . . . . . . . . . . . . . . .
Additional Paid-in Capital . . . . . . . . . . .
Retained Earnings . . . . . . . . . . . . . . . .
Total Owners’ Equity . . . . . . . . . . . . .
$
$
$
Additional information relating to transactions that
occurred during 2017:
Issued 25,000 shares of common stock, par value $1.00
per share, for $45,000 cash, including premium.
Paid dividends totaling $45,000 during the year.
Total Liabilities and Owners’ Equity
$
408,200
$

405,880
R. Schwanger
November 20, 2017
…
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