Answered step by step
Verified Expert Solution
Question
1 Approved Answer
12 Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet 53.000
12 Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet 53.000 Rodriguez Inc. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase decrease Cash $21,000 $18,000 Accounts Receivable 31,000 35,000 (4.000) Inventory 53,000 25,000 28.000 Plant and Equipment 123,000 90,000 33.000 Accumulated Depreciation Plant and Equipment (43.000) (40,000) (3.000) Total assets $228,000 $168,000 $60,000 Additional information provided by the company includes the following: Equipment costing $65,000 was purchased for cash. Equipment with a cost of $32,000 and accumulated depreciation of $7,000 was sold for $45,000 What was the amount of net cash provided by (used for) investing activities? 13. Taylor Company follows the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Taylor Company Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/decrease Common Stock $30,000 $2,000 $28,000 Retained Earnings 154,000 89,000 65,000 Treasury Stock (8,000) (5,000) (3.000) Total equity $176.000 $86,000 $90,000 Additional information: . Net Income for the year was $89,000. Based on the above information, calculate the dividends declared during the year 2014
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started