Reference no: EM13990702
The comparative balance sheets for 2013 and 2012 and the income statement for 2013 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also.
(Continue to next page)
Additional information from the accounting records:
a. Investment revenue includes Arduous Company's $6 million share of the net income of Demur Company, an equity method investee.
b. Treasury bills were sold during 2013 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
c. A machine originally costing $70 million that was one-half depreciated was rendered unusable by a rare flood. Most major components of the machine were unharmed and were sold for $17 million.
d. Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $3 million.
e. The preferred stock of Tory Corporation was purchased for $25 million as a long-term investment.
f. Land costing $46 million was acquired by issuing $23 million cash and a 15%, four-year, $23 million note payable to the seller.
g. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $82 million.
h. $60 million of bonds were retired at maturity.
i. In February, Arduous issued a 4% stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.
j. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $9 million.
Required:
Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2013. Present cash flows from operating activities by the direct method. (A reconciliation schedule is not required.)
|
Describe what is meant by an equipotential surface
: Describe what is meant by an equipotential surface: Be Specific and indicate any aspects or characteristics regarding forces and work done in your description:
|
|
Journalize the following transactions
: Committing a fraud because the employee feels that it will be easy to do is indicative of which part of the fraud triangle?
|
|
Problem regarding the irrational numbers
: 1. Show that the set R\Q of irrational numbers, with usual topology (relative topology from R), is topologically complete. 2. Define a complete metric for R\{0, 1} with usual (relative) topology.
|
|
What horizontal normal force do track sides exert on marble
: A 10^gram marble rolls in a circular track with negligible friction. At a given moment, its velocity is 1^m/s. What horizontal normal force does the track's sides exert on the marble, and what is the direction of the force?
|
|
Investment revenue includes arduous company
: A machine originally costing $70 million that was one-half depreciated was rendered unusable by a rare flood. Most major components of the machine were unharmed and were sold for $17 million.
|
|
Determine the electric potentials
: A small air balloon of charge q = - 8.4 nC and mass 1.52 grams, is placed at rest at the 80 cm potential surface and then released. Determine its speed v at the 50 cm radial location: {neglect any air resistance)
|
|
Problem regarding the intervals or half-lines
: In the proof of Proposition 12.1.1, a 1-1 measurable function f from R onto [0, 1] was constructed by representing each space as a union of countably many disjoint intervals and letting f be monotone from each interval in R to an interval in..
|
|
Calculate the employee bonus payment
: Calculate the employee bonus payment under the incentive scheme - Normal pay is $5 and the group operate under Halsey wage scheme.
|
|
Enlighten me on proteins and forensics
: Please Enlighten me on proteins and forensics
|