Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please follow same format for answers so I won't be confused. thanks !! The following information is available for Marin Corporation for the year ended

please follow same format for answers so I won't be confused. thanks !!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following information is available for Marin Corporation for the year ended December 31, 2022: $19,000 19.000 22,000 Collection of principal on long-term loan to a supplier Acquisition of equipment for cash Proceeds from the sale of long-term investment at book value Issuance of common stock for cash Depreciation expense Redemption of bonds payable at carrying (book) value Payment of cash dividends 21,000 26,800 31,200 7.900 Net income 37,300 Purchase of land by issuing bonds payable 40.700 In addition, the following information is available from the comparative balance sheet for Marin at the end of 2022 and 2021: 2022 2021 Cash $158.700 $95.000 Accounts receivable (net) 33,200 16,800 Prepaid insurance 18,600 14,800 Total current assets $210,500 $126,600 $20,200 Accounts payable Salaries and wages payable $36,600 7.000 7,500 Total current liabilities $43,600 $27,700 Prepare Marin's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis eg. (15,000).) MARIN CORPORATION Statement of Cash Flows $ Adjustments to reconcile net income to $ > >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-12 With Study Guide And Working Papers

Authors: Jeffrey Slater

13th Edition

0133866300, 9780133866308

More Books

Students also viewed these Accounting questions

Question

Use algebra to verify the property of proportions. Property 2

Answered: 1 week ago

Question

1. Send the student on an errand, or ask him or her for help.

Answered: 1 week ago