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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
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

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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