Shown below are comparative statements of financial position for Marigold Corporation. Assets Cash Term deposits MARIGOLD...
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Shown below are comparative statements of financial position for Marigold Corporation. Assets Cash Term deposits MARIGOLD CORPORATION Statement of Financial Position December 31 Accounts receivable Inventory Land Equipment Accumulated depreciation - equipment 2025 $37,740 28,900 83,300 166,600 78,400 254,800 (64,680) 2024 $21,560 0 74,480 185,220 98,000 196,000 (31,360) $585,060 $543,900 Liabilities and Shareholders' Equity Accounts payable Bonds payable Common shares Retained earnings Additional information: 1 20 3. 4 5. 6 $38,220 147,000 211,680 188,160 $585,060 $46,060 196,000 170,520 No land was purchased during 2025 No equipment was disposed of during 2025. 131,320 $543,900 Net income for 2025 was $91.140. There were no gains or losses reported on the statement of income. Cash dividends of $34.300 were declared and paid. Bonds payable amounting to $49,000 were redeemed for cash $49,000. The bonds were originally issued at face value (no premium or discount). Common shares were issued for $41,160 cash. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) Shown below are comparative statements of financial position for Marigold Corporation. Assets Cash Term deposits MARIGOLD CORPORATION Statement of Financial Position December 31 Accounts receivable Inventory Land Equipment Accumulated depreciation - equipment 2025 $37,740 28,900 83,300 166,600 78,400 254,800 (64,680) 2024 $21,560 0 74,480 185,220 98,000 196,000 (31,360) $585,060 $543,900 Liabilities and Shareholders' Equity Accounts payable Bonds payable Common shares Retained earnings Additional information: 1 20 3. 4 5. 6 $38,220 147,000 211,680 188,160 $585,060 $46,060 196,000 170,520 No land was purchased during 2025 No equipment was disposed of during 2025. 131,320 $543,900 Net income for 2025 was $91.140. There were no gains or losses reported on the statement of income. Cash dividends of $34.300 were declared and paid. Bonds payable amounting to $49,000 were redeemed for cash $49,000. The bonds were originally issued at face value (no premium or discount). Common shares were issued for $41,160 cash. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000))
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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