Question

Module 4 Excel Workbook Assignment MBA 6315 B1. Create the Statement of Cash Flows using the Indirect Method from the information provided. Include the required supplemental information regarding interest and taxes, and include any significant non-cash transactions (24 points-graded for accuracy and format, including proper use of Excel Dog Stuff, Inc. Balance Sheet December 31, 2019 and 2018 2019 2018 3 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Supplies Inventory Prepaid Insurance Total Current Assets 908,114 166,980 756,756 1,157 670 1,833,677 527.650 126,500 772,200 1,244 590 1,428,184 2 Property and Equipment Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Net Property and Equipment 260,500 1,594,000 (278,950) 665,800 (466,060) 1,775,290 1,974,000 (296,100) 665,800 (399,480) 1,944,220 Right-of-Use Asset ROU--Warehouse, Net of Amortization Net Right-of-Use Assets 420,850 420,850 180,000 Other Assets Investment in Marketable Securities Assets Held for Sale Total Other Assets 29,230 29,230 180,000 Total Assets $ 4,209,817 $ 3,401,634 $ Liabilities and Stockholders' Equity 2 Current Liabilities Accounts Payable Salaries and Wages Payable Interest Payable Taxes Payable Unearned Revenue Total Current Liabilities 90,948 20,231 25,111 22,070 2,310 160,670 85,800 21,990 13,698 16,712 2,100 140,300 456,600 Long-term Liabilities Note Payable Finance Lease Liability Total Long-term Liabilities 401,100 413,000 814,100 456,600 Total Liabilities 974,770 596.900 580,000 - Stockholders' Equity Common Stock (68,000 and 58,000 shares APIC-Common Stock Retained Earnings Total Stockholders' Equity 680,000 22,000 2,533,047 3,235,047 2,224,734 2,804,734 Total Liabilities and Stockholders' Equi $ 4,209,817 $ 3,401,634

Answer 1

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Dog Stuff Inc.
Cashflow statement- 2019
Indirect Method	Amount $	Amount $
Particulars
Net Income		332,113.00
Adjustment to reconcile Net Income to Net Cash
Add:
Depreciation & Amortization Expense	128,580.00	128,580.00
Less:
Gain on sale of building	79,000.00	79,000.00
Cash flow from Operations		381,693.00
Changes in Current Assets/Current Liabilities
Increase in Accounts Receivable	(40,480.00)
Decrease in Merchandise Inventory	15,444.00
Decrease in Supplies Inventory	87.00
Increase in Prepaid Insurance	(80.00)
Increase in Accounts Payable	5,148.00
Decrease in Salaries & Wages Payable	(1,759.00)
Increase in Interest Payable	11,413.00
Increase in Taxes Payable	5,358.00
Increase in Unearned Revenue	210.00	(4,659.00)
Net cash provided by operating activities		377,034.00
		377,034.00
Cash flow from investing activities
Land purchased	(260,500.00)
Building sold	402,000.00
Long Term investments purchased	(180,000.00)
Gain on sale of other assets	29,230.00
Net cash used for investing activities		(9,270.00)
Cash flow from financing activities
Notes Payable paid	(55,500.00)
Principle payment of lease rental	(30,000.00)
Common stock issued during the year	122,000.00
Dividends paid	(23,800.00)
Net cash provided by (Used for) financing activities		12,700.00
Net Increase/(Decrease) in cash		380,464.00
Cash Balance, beginning		527,650.00
Cash Balance, ending		908,114.00

Workings	Amount $
Increase in Accounts Receivable
Closing Balance	166,980.00
Less: Opening Balance	126,500.00
Increase in Accounts Receivable	40,480.00
Decrease in Merchandise Inventory
Closing Balance	756,756.00
Less: Opening Balance	772,200.00
Decrease in Merchandise Inventory	(15,444.00)
Decrease in Supplies Inventory
Closing Balance	1,157.00
Less: Opening Balance	1,244.00
Decrease in Supplies Inventory	(87.00)
Increase in Prepaid Insurance
Closing Balance	670.00
Less: Opening Balance	590.00
Increase in Prepaid Insurance	80.00
Increase in Accounts Payable
Closing Balance	90,948.00
Less: Opening Balance	85,800.00
Increase in Accounts Payable	5,148.00
Decrease in Salaries & Wages Payable
Closing Balance	20,231.00
Less: Opening Balance	21,990.00
Decrease in Salaries & Wages Payable	(1,759.00)
Increase in Interest Payable
Closing Balance	25,111.00
Less: Opening Balance	13,698.00
Increase in Interest Payable	11,413.00
Increase in Taxes Payable
Closing Balance	22,070.00
Less: Opening Balance	16,712.00
Increase in Taxes Payable	5,358.00
Increase in Unearned Revenue
Closing Balance	2,310.00
Less: Opening Balance	2,100.00
Increase in Unearned Revenue	210.00
Notes Payable paid
Closing Balance	401,100.00
Less: Opening Balance	456,600.00
Notes Payable paid	(55,500.00)
Common stock issued during the year
Closing Balance	680,000.00
Add: APIC	22,000.00
Less: Opening Balance	580,000.00
Common stock issued during the year	122,000.00
Dividend paid during the year
Retained Earnings- Opening	2,224,734.00
Add: Net Income	332,113.00
Less: Retained Earnings- Closing	2,533,047.00
Dividend paid during the year	23,800.00