Below are balance sheet and income statement data for Blue Panel Corporation. (For the balance sheet data,

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Below are balance sheet and income statement data for Blue Panel Corporation. (For the balance sheet data, the end-of-year information is in the left column.)

Balance Sheet

Below are balance sheet and income statement data for Blue
Below are balance sheet and income statement data for Blue

Income Statement (for 2013)

Below are balance sheet and income statement data for Blue

Additional information for Blue Panel Corporation is as follows:
(a) Property, plant, and equipment with an original historical cost of $2,100 was sold during 2013.
(b) All accounts payable relate to inventory purchases.
(c) The "Other long-term liabilities" item is Blue Panel's pension liability. Pension expense is reported as part of selling and administrative expenses.
(d) During 2013, Blue Panel issued shares of common stock to an investor in exchange for property, plant, and equipment valued at $800.
(e) The accumulated other comprehensive income relates solely to the available-for-sale investment securities.
Instructions:
Prepare a complete statement of cash flows for 2013 for Blue Panel Corporation. Use the direct method for reporting cash flows from operating activities?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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