accounting 310

Project Description:

myers corporation's balance sheet at the end of 2013 included the following
current assets $282,00
land 36,000
buildings 144,000
equipment 108,000
accumulated depreciation- buildings (36,000)
accumulated depreciation-equipment (13,200)
patents 48,00
total $568,800
current liabilities $180,000, bonds payable 120,000 common stock 216,000 retain earnings 52,800 total $568,800

following information available for 2014
1. treasury stock was purchase at cost of $13,200
2. cash dividends of $36,000 were declared and paid
3. a long term investment in stock was purchased for $19,200
4. current assets other than cash increased by $34, 800, current liabilities increased by $15, 600
5. depreciation expense was $4,800 on the building and $10,800 on equipment
6. net income was $66,000
7. bonds payable of $60,000 was issued
8. an addition to the building was completed at a cost of $32,400
9. patent amortization was $3000
10. equipment (cost $24,000 and accumulated depreciation $9,600) was sold for $12,000

requirements:
1. prepare a statement of cash flows for 2014
2. prepare a balance sheet at dec 31, 2014
Skills Required:
Project Stats: Edited

Price Type: Fixed

Project Budget: $20 to $50
Completed
Total Proposals: 8
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