User Account

All Pages

Income statement and comparative balance sheets

Assignment Help Accounting Basics
Reference no: EM13883609

Presented below are the 2013 income statement and comparative balance sheets for Santana Industries.

Additional information for the 2013 fiscal year ($ in thousands):
1. Cash dividends of $1,000 were declared and paid.
2. Equipment costing $4,000 was purchased with cash.
3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.
4. Depreciation of $1,600 is included in operating expenses.

Required:
Prepare Santana Industries 2013 statement of cash flows, using the indirect method to present cash flows from operating activities.

Reference no: EM13883609

Questions Cloud

Describe the steps in a manual accounting cycle : Describe the steps in a manual accounting cycle.
Explain the internal control environment of source : Explain the internal control environment of source of capital and investment processes.
Describe the steps in source of capital processes : Describe the steps in source of capital processes and explain how top management is involved.
Selling and administrative expenses : The preliminary 2013 income statement of Alexian Systems, Inc., is presented below:
Income statement and comparative balance sheets : Presented below are the 2013 income statement and comparative balance sheets for Santana Industries.
An external entity relationship diagram : You have been retained as a Software Engineering consultant to the Muddy Springs Bottled Water Company. The company runs a water bottling plant which is currently undergoing dramatic improvements in equipment and capacity.
Income statement presentation of the gain on the sale : The focus of this case is the income statement presentation of the gain on the sale of the timber tracts.
Are people always an organization''s most valuable asset : .Visit the SHRM website and search for HR disciplines. List and briefly describe current HR disciplines. Which of these are you most interested in learning about? Why?
The inventory costing method was changed : a)Each of the following situations occurred during 2013 for one of your audit clients:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Variable costing method over absorption costing

Accountants prefer the variable costing method over absorption costing method for evaluating the performance of a company because

  Price at which a stock can be sold

The price at which a stock can be sold depends upon a number of factors. Which statement below is not one of those factors?

  Determine cash generated from operations

Which financial statement is used to determine cash generated from operations?

  Prepare a budget showing the quantity of switches

Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.

  Difference between fob shipping point and fob destination

What is the difference between FOB shipping point and FOB destination? How do these terms relate to the revenue principle?

  Western outfitters mountain sports projected 2008 sales of

western outfitters mountain sports projected 2008 sales of 75000 units at a unit price of 12.00. actual 2008 sales were

  Wage and tax statement data and employer fica taxjocame inc

wage and tax statement data and employer fica tax.jocame inc. began business on january 2 2013. salaries were paid to

  Adjustment to the allowance for doubtful accounts

Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivables basis). If the accounts receivable balance at December 31 was $380,000, what is the required adjustment to the Allowance for Doubtf..

  Klumper corporation is a diversified manufacturer of

klumper corporation is a diversified manufacturer of industrial goods. the companys activity-based costing system

  Describe responsibility accounting and its purpose what

1. describe responsibility accounting and its purpose. what conditions are necessary for responsibility accounting to

  Munoz corporation uses activity-based costing to determine

munoz corporation uses activity-based costing to determine product costs for external financial reports. at the

  B company switched from the sum-of-the-years-digits

b company switched from the sum-of-the-years-digits depreciation method to straight-line depreciation in 2011. the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd