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prepare a statement of cash ows (using the indirect method) for 2013 for Marina Company. There are a few answers inputted into the Statement to help get you started on the preparation

prepare a statement of cash ows (using the indirect method) for 2013 for Marina Company. There are a few answers inputted into the Statement to help get you started on the preparation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marina Company Balance Sheet Cash Accounts receivable (net) Inventory Long-term investments Property, plant & equipment Accumulated depreciation Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings $ $ December 31, 2014 2013 2012 231,500 (37,700) $ 308,000 $ $ 40,900 $ 38,300 35,000 17,000 $ 21,000 70,000 130,000 70,000 308,000 $ 10,200 20,300 42,000 15,000 150,000 (25,000) 212,500 26,500 17,000 50,000 90,000 29,000 212,500
Transcribed Image Text:Marina Company Balance Sheet Cash Accounts receivable (net) Inventory Long-term investments Property, plant & equipment Accumulated depreciation Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings $ $ December 31, 2014 2013 2012 231,500 (37,700) $ 308,000 $ $ 40,900 $ 38,300 35,000 17,000 $ 21,000 70,000 130,000 70,000 308,000 $ 10,200 20,300 42,000 15,000 150,000 (25,000) 212,500 26,500 17,000 50,000 90,000 29,000 212,500
In the Excel Template provided, you will nd the Balance Sheet of Marina Comp for December 31, 2013. In addition to the information on the Balance Sheet, we are presented with the following additional data related to current year operations: 1. Net income for the year 2013, $66,000. 2. Depreciation on plant assets for the year, $12,700. 3. Sold the long-term investments for $28,000 (assume gain or loss is ordinary). 4. Paid dividends of $25,000. 5. Purchased machinery costing $21, 500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. Using tab 2 in the Excel Template - (2) Cash Flows Statement - prepare a statement of cash ows (using the indirect method) for 2013 for Marina Company. There are a few answers inputted into the Statement to help get you started on the preparation
Transcribed Image Text:In the Excel Template provided, you will nd the Balance Sheet of Marina Comp for December 31, 2013. In addition to the information on the Balance Sheet, we are presented with the following additional data related to current year operations: 1. Net income for the year 2013, $66,000. 2. Depreciation on plant assets for the year, $12,700. 3. Sold the long-term investments for $28,000 (assume gain or loss is ordinary). 4. Paid dividends of $25,000. 5. Purchased machinery costing $21, 500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. Using tab 2 in the Excel Template - (2) Cash Flows Statement - prepare a statement of cash ows (using the indirect method) for 2013 for Marina Company. There are a few answers inputted into the Statement to help get you started on the preparation
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