Provide additional information from the accounting records

Assignment Help Financial Accounting
Reference no: EM13859575

Comparative balance sheets for 2013 and 2012 and a statement of income for 2013 are given below for Metagrobolize Industries.

Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

a. During 2013, equipment with a cost of $300,000 (90% depreciated) was sold.

b. The statement of shareholders' equity reveals reductions of $225,000 and $450,000 for stock dividends and cash dividends, respectively.

Required:

Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2013. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.)

Reference no: EM13859575

Questions Cloud

Identification of important contributors to the study : To summarize, your report will include: the identification of three important contributors to the study of Educational Ethics and the identification of three specific, practical educational ethics issues or challenges
Which principles of globalization did nr follow : Which principles of globalization did NR & his colleagues follow when they were growing Infosys into a global powerhouse?
Describe the transmission of pertussis : Describe the transmission of pertussis (whooping cough) in the context of the Agent-Host-Environment triangle
Evaluate corporations responsibilities towards the society : Appraiserelated ethical issues in order to make moral decisionspersonal & professional code of conduct in business. Evaluate corporations' responsibilities and activities towards the society.
Provide additional information from the accounting records : Additional information from the accounting records
Describe the printed circuit heat exchanger : Compact heat exchangers (CHEs) were among the first unit operations to be classified as intensified - Describe the Printed Circuit Heat Exchanger (PCHE) and its merits and potential uses.
Constitute sufficient evidence to support the assertion : Constitute sufficient evidence to support the assertion when considered in combination with a sufficiently low assessed level of control risk.
How abstract expressionism was not a unified school of art : According to our reading, select the true statements below that illustrates how Abstract Expressionism was not a unified ‘school' of art
Explore corruption scandal in terms of issue-related factors : Explore the corruption scandals in terms of the issue-related factors discussed in Chapter 4, namely moral intensity and moral framing.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Diluted earnings per sharedunbar company had 400000 shares

diluted earnings per share.dunbar company had 400000 shares of common stock outstanding through the year 2013. in

  Prepare and interpret a complete ratio analysis

Prepare and interpret a complete ratio analysis of the firm's 2006 operations and Summarize your findings and make recommendations.

  Calculate the total interest paid over the life of the loan

Increase the mortgage amount to include the $18,000, bringing the total amount financed to $187,100. Calculate the total interest paid over the life of the loan for each of these options.

  Creditable foreign income tax-foreign tax credit limitation

Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Quantco does a considerable amount of business in China, it has a branch office in Beijing. Compute Quantco's creditable fo..

  Discuss how this influence takes effect

in which countries does taxation tend to have a major influence on published company accounts? Discuss how this influence takes effect and what the position is regarding the treatment of taxation in consolidated accounts.

  Calculate the balance in the account

Calculate the balance in the account, "Allowance to Adjust Long-term Investments to Market," on A. December 31, 2009 and B. December 31, 2010.

  Instructions answer each of the following questions and

instructions answer each of the following questions and briefly explain where in the statements notes or other sections

  Organize the journal entries through the maturity

Organize the appropriate journal entries through the maturity of each liability.

  Assuming the market interest rate on the issue date

On January 1, 2015, Ripstick Park issues $850,000 of 8% bonds, due in ten years, with interest payable semi annually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $850,000. Re..

  Prepare a memo from ringle to the head of the information

Prepare a memo from Ringle to the head of the information systems department, Sandy Klaus. In this memo, provide some suggestions for including the accounting personnel in the systems development project. Give some very persuasive arguments why ..

  Review the balance sheet and income statement

Review the balance sheet and income statement of your company and what type of stock does your company issue (par value, no par, etc.)? Does it issue Preferred Stock? Does it hold any Treasury Stock?

  Evaluate effective annual yield

What is the current yield on the bonds?

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!

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