Accounting in Excel, assignment help
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| The data below is from the accounting records of Real Time Company, Inc. |
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| December 31, 2015 | December 31, 2014 | ||||
| Cash | $15,000 | $8,000 | |||
| Current assets other than cash |
85,000 | 60,000 | |||
| Long-term investments | 10,000 | 53,000 | |||
| Plant assets | 335,000 | 215,000 | |||
| $445,000 | $336,000 | ||||
| Accumulated depreciation | $20,000 | $40,000 | |||
| Current liabilities | 40,000 | 22,000 | |||
| Bonds payable | 75,000 | 0 | |||
| Common stock | 254,000 | 254,000 | |||
| Retained earnings | 56,000 | 20,000 | |||
| $445,000 | $336,000 | ||||
| Additional information below was obtained from the books and records: |
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| 1 | In 2015, the Company sold for | 34000 | available-for-sale investments carried at a cost of |
43000 | |
| on December 31, 2015. The loss was incorrectly charged directly to Retained earnings. |
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| 2 | In 2015, the Company sold for | 8000 | plants assets that cost | 50000 | and were 80% depreciated. |
| The loss was incorrectly charged directly to Retained earnings. |
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| 3 | Net income as reported for the income statement for the year ended December 31, 2015 was |
57000 | |||
| 4 | The Company paid cash dividends totaling |
10000 | for the year ended December 31, 2015. |
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| 5 | Depreciation expense charged to the income statement for the year ended December 31, 2015 was |
20000 | |||
| Required: Prepare a statement of cash flows for the year 2015 using the indirect method using proper formats and headings. |
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| Use Excel to prepare a worksheet linking the above information you are given to each line item you include in your statement of cash flows. |
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| In other words, you must use an Excel function to either link or calculate every number presented in every part of your SCF. |
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| You can either do the statement of cash flows directly below here or do it in a separate Tab (Sheet) on this Excel file. |
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| Deposit your completed assignment under Assignments to the Excel Assessment Dropbox you can find in Leo. |
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