Your goal is to prepare a Statement of Cash Flows within the problem noted below. In the Excel Template provided, you will find 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. 1 / 2 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.
Your goal is to prepare a Statement of Cash Flows within the problem noted below. In the Excel Template provided, you will find 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.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
