Reference no: EM131193763

Homework

Excel Assessment: In this assignment, you will demonstrate your knowledge and competencies to use Excel to solve an accounting problem. Create a Statement of Cash Flows using both the direct and indirect methods.

Instructions:

1) Use the Comparative Balance Sheets and the Income Statement along with the additional information included in the tabs below to prepare a Statement of Cash Flows using the Direct Method. Place your answer on the Direct Method tab of this spreadsheet.

2) Use the Comparative Balance Sheets and the Income Statement along with the additional information below to prepare a Statement of Cash Flows using the Indirect Method. Place your answer on the Indirect Method tab of this spreadsheet.

3) Use the Excel formula function for all computations.

4) Do not copy and paste figures from the Balance Sheets or Income Statement when preparing the Statement of Cash Flows. Instead, reference data from one sheet to another using Excel formulas..

Additional information for Year 2:
Based on the outstanding job of the asset managers, none of the accounts receivable were written off.
The CFO sold investments in Year 2 worth	$25,000
The asset acquisitions manager sold equipment she had purchased originally for	$20,000
>>>>When the equipment was sold, it had already been depreciated by	40%
The Board of Directors declared and paid dividends in Year 2.
Common stock was issued in exchange for a plot of land the company planned to develop in the future.
Operating Expenses:
Uncollectible Accounts Expense	$  3,000
Depreciation Expense: Buildings	8,000
Depreciation Expense: Equipment	13,500