Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem
Statement of Cash Flows-Indirect Method
The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2014 and 2013, is shown as follows:
Dec. 31, 2014
Dec. 31, 2013
Assets
Cash
$311,160
$291,450
Accounts receivable (net)
112,720
104,680
Inventories
318,200
309,920
Investments
0
120,070
Land
163,210
Equipment
351,080
274,000
Accumulated depreciation-equipment
(82,190)
(73,890)
Total
$1,174,180
$1,026,230
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)
$212,530
$202,170
Accrued expenses payable (operating expenses)
21,140
26,680
Dividends payable
11,740
9,240
Common stock, $10 par
63,410
50,290
Paid-in capital in excess of par-common stock
238,360
139,570
Retained earnings
627,000
598,280
The following additional information was taken from the records:
The investments were sold for $140,480 cash.Equipment and land were acquired for cash.There were no disposals of equipment during the year.The common stock was issued for cash.There was a $76,950 credit to Retained Earnings for net income.There was a $48,230 debit to Retained Earnings for cash dividends declared.
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.
Branford's business is growing rapidly, and the company needs to expand its manufacturing facilities. This expansion will require the company to obtain an additional $1,000,000 in cash. Prepare the revised balance sheets that would result under eac..
on december 1 2010 lester company issued at 103 two hundred of its 9 1000 bonds. attached to each bond was one
cole corporation issued 400000 7 20-year bonds on january 1 2014 for 360727. this price resulted in an
Decomat Ltd (D) acquires 75% of equity shares in Macs Ltd (M) through exchanging one $1 share in D for three $1 shares in M. M has a total of 60 000 shares. D's shares have a market value of $3 on the date of acquisition, while M's shares are valu..
Wrote off the individual account receivables for the following customers as payment not expected in future
You are evaluating two different database management systems for IIT's admissions department. The Banner I costs $800,000, has a six-year useful life.
in the current year company a is formed with 630000 in capital from the sale of 21000 shares of stock at 30 a share.
Prepare a report of not less than 2000 words explaining five appropriate substantive audit procedures you should perform in relation to the data contained in the inventory files identified above
Prepare the journal entry to record this transaction on December 31, 2014. Indicate how much (if any) revenue should be recognized on January 31, 2015, and for the year 2015.
What is the effect on the company's income if Product R is discontinued. What is the effect on the company's income if sales price of Product R is increased
In 2016, X Company's unit-based profit function was $85.90X - $741,000. How many units must X Company sell in 2017 in order to earn $32,000
What effect does the payment of government unemployment insurance have on the unemployment rate? On the severity of recessions?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd