The following information is available for Marin Corporation for the year ended December 31, 2022. Beginning...

The following information is available for Marin Corporation for the year ended December 31, 2022. Beginning cash balance $44,000 Accounts payable decrease 3,300 Depreciation expense 83,000 Accounts receivable increase 9,200 Inventory increase 14,500 Net income 255,000 Cash received for sale of land at book value 44,000 Sales revenue 745,000 Cash dividends paid 11,800 Income tax payable increase 4,500 Cash used to purchase building 141,000 Cash used to purchase treasury stock 30,200 Cash received from issuing bonds 230,000 Prepare a statement of cash flows using the indirect method.

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ekkarill92 answered 2 years ago

he following information is available for Marin Corporation for the year ended December 31, 2022. Beginning...

he following information is available for Marin Corporation for the year ended December 31, 2022. Beginning cash balance $36,000 Accounts payable decrease 3,400 Depreciation expense 82,000 Accounts receivable increase 9,200 Inventory increase 14,100 Net income 316,000 Cash received for sale of land at book value 36,000 Sales revenue 744,000 Cash dividends paid 11,600 Income tax payable increase 4,600 Cash used to purchase building 142,500 Cash used to purchase treasury stock 30,800 Cash received from issuing bonds 223,000 Prepare a statement...

The following information is available for Kingbird Corporation for the year ended December 31, 2022. Beginning...

The following information is available for Kingbird Corporation for the year ended December 31, 2022. Beginning cash balance $36,000 Accounts payable decrease 3,000 Depreciation expense 85,000 Accounts receivable increase 8,700 Inventory increase 14,100 Net income 298,500 Cash received for sale of land at book value 36,000 Sales revenue 740,500 Cash dividends paid 11,500 Income tax payable increase 4,200 Cash used to purchase building 147,500 Cash used to purchase treasury stock 38,800 Cash received from issuing bonds 203,000 Prepare a statement...

The following information is available for Skysong Corporation for the year ended December 31, 2022: Collection...

The following information is available for Skysong Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier $24,000 Acquisition of equipment for cash 19,500 Proceeds from the sale of long-term investment at book value 24,800 Issuance of common stock for cash 21,000 Depreciation expense 25,000 Redemption of bonds payable at carrying (book) value 31,000 Payment of cash dividends 7,700 Net income 33,400 Purchase of land by issuing bonds payable 43,000 In addition, the...

The following information is available for Metlock Corporation for the year ended December 31, 2022: Collection...

The following information is available for Metlock Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier $33,000 Acquisition of equipment for cash 14,000 Proceeds from the sale of long-term investment at book value 24,900 Issuance of common stock for cash 20,400 Depreciation expense 29,200 Redemption of bonds payable at carrying (book) value 37,200 Payment of cash dividends 6,700 Net income 38,200 Purchase of land by issuing bonds payable 48,500 In addition, the...

The following information is available for Chenard Corporation for the year ended December 31, 2017. Beginning...

The following information is available for Chenard Corporation for the year ended December 31, 2017. Beginning cash balance $35,000 Accounts payable decrease 3,200 Depreciation expense 76,000 Accounts receivable increase 8,200 Inventory increase 13,000 Net income 269,100 Cash received for sale of land at book value 35,000 Sales revenue 747,000 Cash dividends paid 12,000 Income tax payable increase 4,700 Cash used to purchase building 144,000 Cash used to purchase treasury stock 32,000 Cash received from issuing bonds 206,000 Prepare a statement...

The following information is available for Splish Brothers Inc. for the year ended December 31, 2022....

The following information is available for Splish Brothers Inc. for the year ended December 31, 2022. Beginning cash balance $ 65,250 Accounts payable decrease 5,365 Depreciation expense 234,900 Accounts receivable increase 11,890 Inventory increase 15,950 Net income 411,945 Cash received for sale of land at book value 50,750 Cash dividends paid 17,400 Income taxes payable increase 6,815 Cash used to purchase building 419,050 Cash used to purchase treasury stock 37,700 Cash received from issuing bonds 290,000 Prepare a statement of...

The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...

The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 5,000 Units sold 4,100 Sales $ 984,000 Materials cost $ 100,000 Variable conversion cost used $ 50,000 Fixed manufacturing cost $ 100,000 Indirect operating costs (fixed) $ 80,500 The variable costing operating income is: ?

The following information is available for Ivanhoe Company for the year ended December 31, 2017. Beginning...

The following information is available for Ivanhoe Company for the year ended December 31, 2017. Beginning cash balance $ 49,635 Accounts payable decrease 4,081 Depreciation expense 178,686 Accounts receivable increase 9,045 Inventory increase 12,133 Net income 313,362 Cash received for sale of land at book value 38,605 Cash dividends paid 13,236 Income taxes payable increase 5,184 Cash used to purchase building 318,767 Cash used to purchase treasury stock 28,678 Cash received from issuing bonds 220,600 Prepare a statement of cash...

The following information is available for Coronado Industries for the year ended December 31, 2017. Beginning...

The following information is available for Coronado Industries for the year ended December 31, 2017. Beginning cash balance $ 46,575 Accounts payable decrease 3,830 Depreciation expense 167,670 Accounts receivable increase 8,487 Inventory increase 11,385 Net income 294,044 Cash received for sale of land at book value 36,225 Cash dividends paid 12,420 Income taxes payable increase 4,865 Cash used to purchase building 299,115 Cash used to purchase treasury stock 26,910 Cash received from issuing bonds 207,000 Prepare a statement of cash flows...

The following information is available for Sunland Company for the year ended December 31, 2017. Beginning...

The following information is available for Sunland Company for the year ended December 31, 2017. Beginning cash balance $ 46,620 Accounts payable decrease 3,833 Depreciation expense 167,832 Accounts receivable increase 8,495 Inventory increase 11,396 Net income 294,328 Cash received for sale of land at book value 36,260 Cash dividends paid 12,432 Income taxes payable increase 4,869 Cash used to purchase building 299,404 Cash used to purchase treasury stock 26,936 Cash received from issuing bonds 207,200 Prepare a statement of cash...

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