This document describes a study that explores using smartphone magnetometers for science applications on CubeSats. It finds that while smartphone magnetometers are less precise than research-grade sensors, they are able to detect signatures of field-aligned currents and auroral/equatorial electrojets through signal processing techniques. The study simulates data collection by a CubeSat passing through an electrojet current sheet using magnetometer noise from a smartphone. After applying filtering, decimation, and matched filtering with a reference signal, the electrojet signature is detectable in the simulated data, demonstrating the feasibility of using low-cost smartphone sensors for space science measurements on small satellites.