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Accounting Cash Flow Statement Background and Directions The comparative balance sheets (2021, 2020) and the income statement (2021) for Company A are shown in the spreadsheet. Use this assignment’s Excel template for completing these tasks. Information for each task is given on the template in the Instructions tab. Use the correct Excel formulas in the cells when calculations are needed as well as formatting. ACG3256fw Module 05 Written Assignment Prepare the statement of cash flows of Company A for the year ended December 31, 2021, using the direct method. Use the additional information from the accounting records below. You may omit the schedule to reconcile net income to cash flows from operating activities. Use the Cash Flow Statement tab for your work and only fill out the yellow cells. Enter the values in thousands. For example, enter 7 for $7000. A building was sold for $7000. It originally cost $40,000 and was three-fourths depreciated. The common stock of Company B was purchased for $5,000 as a long-term investment. Company A acquired property by leasing a note payable to the seller. The terms were $30,000 with a 13% rate for seven years. New equipment purchased for $15,000 cash. January 1, 2021: bonds were sold at their $25,000 face value. January 19: a 5% stock dividend (1,000 shares) issued. The market price was $14 per share for the $10 par value common stock on this day. Shareholders received cash dividends of $13,000. November 12: Company A repurchased 500 shares of common stock as treasury stock at the cost of $8,000.
Accounting Cash Flow Statement Background and Directions The comparative balance sheets (2021, 2020) and the income statement (2021) for Company A are shown in the spreadsheet. Use this assignment’s Excel […]