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The balance sheet data of Marin Company at the end of 2025 and 2024 are shown below. Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Total assets 2025 $7,600 80,800 86,100 8,900 170,500 (44,700) 30,500 $339,700 2024 $10,100 87,900 79,900 12,000 145,000 (36,300) 50,300 $348,900

The balance sheet data of Marin Company at the end of 2025 and 2024 are shown below. Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Total assets 2025 $7,600 80,800 86,100 8,900 170,500 (44,700) 30,500 $339,700 2024 $10,100 87,900 79,900 12,000 145,000 (36,300) 50,300 $348,900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The balance sheet data of Marin Company at the end of 2025 and 2024 are shown below. Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Total assets Accounts payable Accrued expenses Notes payable-bank, short-term Bonds payable Common stock, $1 par Retained earnings 2025 $7,600 80,800 86,100 8,900 170,500 (44,700) 30,500 $339,700 2024 $10.100 87,900 79,900 12,000 145,000 (36,300) 50,300 $348,900 $44,300 $58,200 11,000 9,000 -0- 49,500 19,700 -0- 182,500 82,200 159,000 73,200
Transcribed Image Text:The balance sheet data of Marin Company at the end of 2025 and 2024 are shown below. Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Total assets Accounts payable Accrued expenses Notes payable-bank, short-term Bonds payable Common stock, $1 par Retained earnings 2025 $7,600 80,800 86,100 8,900 170,500 (44,700) 30,500 $339,700 2024 $10.100 87,900 79,900 12,000 145,000 (36,300) 50,300 $348,900 $44,300 $58,200 11,000 9,000 -0- 49,500 19,700 -0- 182,500 82,200 159,000 73,200
Equipment Accumulated depreciation-equipment Land Total assets Accounts payable Accrued expenses Notes payable-bank, short-term Bonds payable Common stock. $1 par. Retained earnings Total liabilities and shareholders' equity (a) Accrued expenses Notes payable-bank, short-term Bonds payable Common stock, $1 par Retained earnings Total liabilities and shareholders' equity 170,500 145,000 (44,700) (36,300) 50,300 $339,700 $348,900 (a) (b) 30,500 (c) $44,300 $58,200 11,000 -0- 19,700 182,500 82,200 Equipment was purchased for $23,500 in exchange for common stock, par $23,500, during the year; all other equipment purchased was for cash. Land was sold for $31.000. Cash dividends of $7,000 were declared and paid during the year. Net cash used $339,700 Compute net cash provided (used) by: (Show amounts that decrease cash flow with either asign e.g. -12,000 or in parenthesis e.g. (12,000).) Net cash provided by operating activities. 11,000 -0- 19,700 182,500 82,200 $339,700 Net cash provided by operating activities. Net cash provided by investing activities. $ by financing activities. 9,000 73,200 $348,900 49,500 -0- 159,000 Equipment was purchased for $23,500 in exchange for common stock, par $23,500, during the year; all other equipment purchased was for cash. Land was sold for $31,000. Cash dividends of $7,000 were declared and paid during the year. $ Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sign e.g. -12,000 or in Farenthesis e.g. (12,000).) $ $ 9,000 49,500 -0- 159,000 73,200 $348,900
Transcribed Image Text:Equipment Accumulated depreciation-equipment Land Total assets Accounts payable Accrued expenses Notes payable-bank, short-term Bonds payable Common stock. $1 par. Retained earnings Total liabilities and shareholders' equity (a) Accrued expenses Notes payable-bank, short-term Bonds payable Common stock, $1 par Retained earnings Total liabilities and shareholders' equity 170,500 145,000 (44,700) (36,300) 50,300 $339,700 $348,900 (a) (b) 30,500 (c) $44,300 $58,200 11,000 -0- 19,700 182,500 82,200 Equipment was purchased for $23,500 in exchange for common stock, par $23,500, during the year; all other equipment purchased was for cash. Land was sold for $31.000. Cash dividends of $7,000 were declared and paid during the year. Net cash used $339,700 Compute net cash provided (used) by: (Show amounts that decrease cash flow with either asign e.g. -12,000 or in parenthesis e.g. (12,000).) Net cash provided by operating activities. 11,000 -0- 19,700 182,500 82,200 $339,700 Net cash provided by operating activities. Net cash provided by investing activities. $ by financing activities. 9,000 73,200 $348,900 49,500 -0- 159,000 Equipment was purchased for $23,500 in exchange for common stock, par $23,500, during the year; all other equipment purchased was for cash. Land was sold for $31,000. Cash dividends of $7,000 were declared and paid during the year. $ Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sign e.g. -12,000 or in Farenthesis e.g. (12,000).) $ $ 9,000 49,500 -0- 159,000 73,200 $348,900
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