# There’s 3 sections to this Question: Apply Your Skills EA3-A1 Create the Statement of Cash Flows...

###### Question:

There’s 3 sections to this Question:
Apply Your Skills EA3-A1 Create the Statement of Cash Flows for Tight Flying Co. In this exercise, you will use the indirect method to create the statement of cash flows in Excel for Tight Flying Co. The following amounts relate to June of 2016. Net income $28,000 Sale of Equipment$1,700 Depreciation Expense $2,000 Sale of Furniture 59,300 Accounts Receivable beginning) 59,600 Notes Payable beginning)$15,800 Accounts Receivable (ending) $13,200 Notes Payable (ending)$4,800 Accounts Payable beginning) $4,600 Stacey Feinberg, Drawing$20,000 Accounts Payable (ending) $9,300 Cash (beginning balance)$80,100 1. Open EA3-A1-StatementofCF from your Chapter 03 folder and save it as: EA3-A1-StatementofCF-[YourName] 2. Enter the data as described into the correct cells for the first section of the statement: In this row. Cell AS Cells Ab and C6 cells A7 and C7 Cells A8 and C8 Cells A9 and C9 Cells A10 and 10 Enter the data for the Header (no colon at end) First item in this section and its associated amount Only expense item and its associated amount First of the remaining two items and its associated amount Final item and its associated amount Final description for (no colon) and a formula to summarize the items in the first section Hint: Enter the items in rows 8-9 in the order they would appear in the balance sheet. Complete the Second Section of the Statement of Cash Flows 3. Enter the data as described into the correct cells for the second section of the statement: In this row: Enter the data for the Cell A12 Header (no colon at end) Cells A13 and C13 F irst item in this section and its associated amount Cells A14 and C14 Second item in this section and its associated amount Cells A15 and 115 Final description for ino colon and a formula to summarize the items in the second section Hint: Enter items alphabetically in this section.
TUTTI ALLOOg Chapter 3: Statement of Cash Flows Complete the Third Section of the Statement of Cash Flows 4. Enter the data as described into the correct cells for the third section of the statement: In this row: Enter the data for the Cell A17 Header (no colon at end) Cells A18 and C18 Account name for the owner's withdrawals and the associated amount Cells A19 and C19 Final item in this section and its associated amount Cells A20 and D20 Final description for (no colon) and a formula to summarize the items in the first section of the statement Cells A22 and D22 Appropriate description for the change in Cash and the associated amount Cells A23 and D23 Name of the appropriate Cash balance and its appropriate amount Cells A24 and D24 Name of the appropriate Cash balance and its appropriate amount 5. Use Find and Replace to: • Replace Activities with Activities: (with a colon). • Replace all instances of the Accounting number format with the Accounting number format with zero decimal places. 6. Apply a bottom border to the cells for which it is appropriate and a top and double bottom border to the one cell that needs it. 7. Save and close your file. L ine

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