Prepare the corresponding statement of cash flows

Assignment Help Accounting Basics
Reference no: EM131349057

Excel Workbook Assignment

A. Three company scenarios are listed below. Based on the information provided in each scenario, prepare the corresponding Statement of Cash Flows in the columns to the right of each scenario. Your Statement of Cash Flows should be in good form and utilize cell referencing and formulas where applicable. You must link your spreadsheet cells to get full credit.

Scenario 1: Barnaby's Circus, Ltd., had a Cash Balance of $350,000 at year end, December 31, 2014. Barnaby's paid cash for the following items during the year ending December 31, 2015:

1. Dividends paid to stockholders - $20,000

2. Purchased inventory from suppliers - 43,000

3. Purchased a new building - 125,000

4. Paid employee salaries - 657,000

5. Paid taxes to the IRS - 15,000

6. Purchased insurance policies to cover the circus - 120,000

Barnaby's Circus, Ltd., received cash for the following items during the year ending December 31, 2015:

1. Received cash from customers - $880,000

2. Issued shares of common stock to their new shareholders - 67,000

3. Received interest from an investment - 3,000

Scenario 2: Cletus' BBQ, Inc., started the year with a cash balance of 452,000 on January 1, 2015. Cletus' paid cash for the following items during the year ending December 31, 2015:

1. Paid supplier for brisket, pulled pork, and chicken - $82,000

2. Paid a principle payment on a long-term note they owe - 9,500

3. Paid employees wages - 76,000

4. Purchased a new delivery truck - 47,500

5. Paid selling and administrative expenses - 23,600

Cletus' BBQ, Inc., received cash for the following items during the year ending December 31, 2015:

1. Sold an old BBQ smoker they replaced with a bigger one last year - $2,000

2. Received cash from customers - 197,000

3. Received rent revenue from a tenant in their building - 16,000

4. Issued shares of stock to new shareholders - 40,000

Scenario 3: Quackpot Gardens Corp. ended the year with a cash balance of 452,000 on December 31, 2015. Quackpot paid cash for the following items during the year ending December 31, 2015:

1. Paid supplier for gardening inventory - $139,000

2. Paid a principle payment on a long-term note they owe - 22,300

3. Paid employees wages - 78,000

4. Purchased a new huge greenhouse - 230,000

5. Paid interest on the long-term note - 12,000

6. Paid all utility bills owed - 33,900

7. Paid dividends to shareholders - 4,000

Quackpot Gardens Corp. received cash for the following items during the year ending December 31, 2015:

1. Sold an old delivery van - $5,600

2. Received cash from customers - 354,000

3. Received cash from a lawsuit settlement - 20,000

Check Figure for Scenario 3: Cash Used for Investing Activities is ($224,400). Note that this is not a start-up company so you need to solve for Beginning Cash. It is not zero.

B. Two company scenarios are listed below. Based on the information provided in each scenario, prepare the corresponding Cash T-Account in the columns to the right of each scenario. Your T-Account should be in good form and utilize cell referencing and formulas where applicable.

Scenario 1: Hannah's Hot Dogs, Ltd., engaged in the following cash transactions when she started up the business this year. Record each transaction in the Cash T-Account Provided in Columns H and I of this worksheet. Be sure to label each item in the T-Account with its corresponding number. The T-Account is drawn for you in this first scenario.

1. Received cash from investors - $30,000

2. Paid cash for hot dog cart - 4,900

3. Paid cash for hot dog, buns, and condiment inventory - 2,000

4. Paid cash for cart license - 1,200

5. Received cash from customers - 6,700

6. Paid cash for insurance - 3,000

7. Paid cash to accountant - 1,000

8. Paid cash for taxes - 450

Scenario 2: Harry's Hamburgers, Inc., engaged in the following cash transactions during the year. Harry had a cash balance of $45,000 at the beginning of the year. Record each transaction in a Cash T-Account in Columns H and I of this worksheet. Be sure to label each item in the T-Account with its corresponding number or label. Don't forget your beginning balance!

1. Made principal payment on long-term note - $8,700

2. Received rent from other hamburger wagon franchisees - 13,400

3. Received cash from customers - 72,000

4. Got a new loan from the bank - 10,000

5. Paid employee wages               - 28,000

6. Paid for liability insurance policy - 4,000

7. Paid all other expenses - 22,300

C. Two company scenarios are listed below. Based on the information provided in each scenario, calculate the corresponding (a) Cash Coverage of Growth Ratio and the (b) Free Cash Flows in the columns to the right of each scenario. Your Ratios and Calculations should include the written definition, be labeled clearly, be presented in good form, and utilize cell referencing and formulas where applicable.

Scenario 1: A Statement of Cash Flows is presented below for Heavy Metal Corporation. Calculate the Cash Coverage of Growth Ratio and the Free Cash Flows for this company.

Heavy Metal Company Statement of Cash Flows For the year ending December 31, 2015

Cash Flows from Operating Activities:                                    

  • Cash received from customers - $1,288,436
  • Cash paid to suppliers - (556,299)
  • Cash paid for selling and administrative expenses - (276,600)
  • Cash paid for interest - (3,500)
  • Cash paid for taxes - (25,460)
  • Net Cash Flows Provided by Operating Activities - 426,577

Cash Flows from Investing Activities:

  • Proceeds from sale of long-term investment - 75,000
  • Purchase of heavy metal delivery truck - (84,900)
  • Purchase of new heavy metal storage warehouse - (282,000)
  • Net Cash Flows Used for Investing Activities - (291,900)

Cash Flows from Financing Activities:

  • Proceeds from new note payable - 300,000
  • Payment of principal on bond payable - (50,000)
  • Proceeds from issue of common stock shares - 41,000
  • Net Cash Flows Provided by Financing Activities - 291,000
  • Net Cash Provided during year - 425,677
  • Beginning Cash at January 1, 2015 - 1,853,908
  • Ending Cash at December 31, 2015 - $2,279,585

Scenario 2: A Statement of Cash Flows is presented below for Good Grub Grocery. Calculate the Cash Coverage of Growth Ratio and the Free Cash Flows for this company.

Good Grub Grocery Statement of Cash Flows For the year ending December 31, 2015

Cash Flows from Operating Activities:

  • Cash received from customers - $967,000
  • Cash paid to suppliers - (644,000)
  • Cash paid for selling and administrative expenses - (227,000)
  • Cash paid for interest - (4,980)
  • Cash paid for taxes - (16,675)
  • Net Cash Flows Provided by Operating Activities - 74,345

Cash Flows from Investing Activities:

  • Proceeds from sale of delivery truck - 4,500
  • Purchase of refrigerated display cases - (13,445)
  • Purchase of new forklifts - (12,980)
  • Net Cash Flows Used for Investing Activities - (21,925)

Cash Flows from Financing Activities:

  • Payment of principal on note payable - (22,000)
  • Proceeds from issue of common stock shares - 8,900
  • Net Cash Flows Used For Financing Activities - (13,100)
  • Net Cash Provided during year - 39,320
  • Beginning Cash at January 1, 2015 - 387,224
  • Ending Cash at December 31, 2015 - $426,544

Attachment:- Excel Workbook Assignment.rar

Reference no: EM131349057

Questions Cloud

Outlines an action plan for development : Explore and develop key capabilities in one of the three key leadership capabilities (competencies) addressed in the unit - develop an action plan of key events and activities that they can undertake over the next 6 months to acquire the knowledge,..
Sql code to retrieve a list of customer records : Write the SQL code to retrieve a list of customer records based on their year-to date purchases (CUS_YTD_BUYS) of 10,000 or more. The table is named CUSTOMER. CUS_YTD_BUYS is numeric.
Examine the current balance : Write the SQL code to examine the current balance, ACC_BALANCE, for the account, ACC_NUM, with the value 45689 located in the CHECKACC table.  The ACC_NUM is a character field.
Update the attribute pcost : Write the SQL code to update the attribute P_COST to 398 in the table PRODUCT for the product whose P_CODE is the character string 13-Q2/P2.
Prepare the corresponding statement of cash flows : Module 1 Excel Workbook Assignment. Three company scenarios are listed below. Based on the information provided in each scenario, prepare the corresponding Statement of Cash Flows in the columns to the right of each scenario. Your Statement of Cas..
Identify at least four candidate transport protocols : Identify at least four candidate transport protocols. Compare and contrast them in a table. Propose which transport protocol(s) to be used for data, voice, and video transport respectively and the rationale. Identify an existing similar software in t..
Write a two pages english essay about travel : English Essay- Write a two pages english essay about Travel. In this essay you mention the features things in travel and disadvantages things and write about the in general.
Deep understanding of the organization strategy : The (enterprises architecture) EA process can be a time and resource intensive exercise that requires a deep understanding of the organization's strategy, strong technical experience, and strong organizational skills.
Focus on getting from the occurrences of the word to meaning : Using the results (below)from your Word Study, we will focus on getting from the occurrences of the word to meaning.

Reviews

Write a Review

Accounting Basics Questions & Answers

  You just signed a consulting contract that will pay you

you just signed a consulting contract that will pay you 38000 52000 and 85000 annually at the end of the next three

  On january 1 2001 dc company purchased equipment at a cost

on january 1 2001 dc company purchased equipment at a cost of 105000. the equipment was estimated to have a useful life

  Diversified products inc has recently acquired a small

diversified products inc. has recently acquired a small publishing company that diversified products intends to operate

  Assume that flip uses a periodic inventory system and that

question 3 suggested time 15 minutes 15 pointsthe following information is available for flip companybeginning

  Is it possible to provide a meaningful interpretation

Is it possible to provide a meaningful interpretation of the intercept of the sample regression line? Explain.

  Problem related to auditing standards

Auditing standards discuss fraud in details. What is your impression of the auditor's responsibility to discover it? Do you make a distinction between responsibility regarding management fraud versus employee fraud?

  Prepare stockholders'' equity section of the balance sheet

Great adventures has net income of $142,000.00 in 2017. Retained earnings at the beginning of 2017 was $132,000.00. Prepare the stockholders' equity section of the balance sheet for Great Adventures as of December 31, 2017

  How does the time value of money have an effect

How does the time value of money have an effect on the role of an accountant? What are the key items that an accountant must understand around present and future value concepts, annuities, and compound interest?

  Capital investment decisions and the time value of money

Dominic Hunter, a second- year business student at University of Utah, wll graduate in two years with an acoounting major and a Spanish minor. Hunter is trying to decide where to work this summer. He has two choices: work full time for a bottl..

  The financial manager at the casa real restaurant is

high-low method regression analysis. cima adapted anna martinez the financial manager at the casa real restaurant is

  On january 2 todd company acquired 40 of the outstanding

on january 2 todd company acquired 40 of the outstanding stock of mcguire company for 205000. for the year ending

  The total actual manufacturing overhead

Burlington Brewery LTD. uses direct labor hours (DLH) in its predetermined overhead rate. At the end of the year, the actual labor hours (DLH) were 3,440 hours and the total actual manufacturing overhead was $147,360.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd