The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts...
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The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Assets 2022 $34,800 85,500 25,900 19,000 79,500 (18,100) $226,600 $15,600 27,400 146,000 37,600 $226,600 2021 $31,200 64,500 19,600 45,500 65,000 (15,000 $210,800 $6,800 18,400 119,000 66,600 $210,800 Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. 2. 3. 4. 5. 6. $15,600 27,400 146,000 37,600 $226,600 $6,800 18,400 119,000 66,600 $210,800 Net loss for 2022 is $15,000. Net sales for 2022 are $290,000. Cash dividends of $19,000 were declared and paid in 2022. Land was sold for cash at a loss of $3,800. This was the only land transaction during the year. Equipment with a cost of $18,800 and accumulated depreciation of $11,600 was sold for $5,900 cash. $13,800 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cas flow with either a - sign eg.-15,000 or in parenthesis e.g. (15,000). Do not leave any answer field blank. Enter O for amounts.) Adjustments to reconcile net income to MARIN CORPORATION Statement of Cash Flows G > 64 The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Assets 2022 $34,800 85,500 25,900 19,000 79,500 (18,100) $226,600 $15,600 27,400 146,000 37,600 $226,600 2021 $31,200 64,500 19,600 45,500 65,000 (15,000 $210,800 $6,800 18,400 119,000 66,600 $210,800 Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. 2. 3. 4. 5. 6. $15,600 27,400 146,000 37,600 $226,600 $6,800 18,400 119,000 66,600 $210,800 Net loss for 2022 is $15,000. Net sales for 2022 are $290,000. Cash dividends of $19,000 were declared and paid in 2022. Land was sold for cash at a loss of $3,800. This was the only land transaction during the year. Equipment with a cost of $18,800 and accumulated depreciation of $11,600 was sold for $5,900 cash. $13,800 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cas flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000). Do not leave any answer field blank. Enter o for amounts.) Adjustments to reconcile net income to MARIN CORPORATION Statement of Cash Flows G > 64 The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Assets 2022 $34,800 85,500 25,900 19,000 79,500 (18,100) $226,600 $15,600 27,400 146,000 37,600 $226,600 2021 $31,200 64,500 19,600 45,500 65,000 (15,000 $210,800 $6,800 18,400 119,000 66,600 $210,800 Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. 2. 3. 4. 5. 6. $15,600 27,400 146,000 37,600 $226,600 $6,800 18,400 119,000 66,600 $210,800 Net loss for 2022 is $15,000. Net sales for 2022 are $290,000. Cash dividends of $19,000 were declared and paid in 2022. Land was sold for cash at a loss of $3,800. This was the only land transaction during the year. Equipment with a cost of $18,800 and accumulated depreciation of $11,600 was sold for $5,900 cash. $13,800 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cas flow with either a - sign eg.-15,000 or in parenthesis e.g. (15,000). Do not leave any answer field blank. Enter O for amounts.) Adjustments to reconcile net income to MARIN CORPORATION Statement of Cash Flows G > 64 The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Assets 2022 $34,800 85,500 25,900 19,000 79,500 (18,100) $226,600 $15,600 27,400 146,000 37,600 $226,600 2021 $31,200 64,500 19,600 45,500 65,000 (15,000 $210,800 $6,800 18,400 119,000 66,600 $210,800 Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. 2. 3. 4. 5. 6. $15,600 27,400 146,000 37,600 $226,600 $6,800 18,400 119,000 66,600 $210,800 Net loss for 2022 is $15,000. Net sales for 2022 are $290,000. Cash dividends of $19,000 were declared and paid in 2022. Land was sold for cash at a loss of $3,800. This was the only land transaction during the year. Equipment with a cost of $18,800 and accumulated depreciation of $11,600 was sold for $5,900 cash. $13,800 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cas flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000). Do not leave any answer field blank. Enter o for amounts.) Adjustments to reconcile net income to MARIN CORPORATION Statement of Cash Flows G > 64
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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