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The following additional information is taken from company records: a. The investment sells for $ 132,000 in cash b. Equipment and land are obtained in
The following additional information is taken from company records: a. The investment sells for $ 132,000 in cash b. Equipment and land are obtained in cash c. There was no equipment sales during the year d. Common stock is issued in cash e. Pay a dividend of $ 56,000 by debiting a retained earnings account.
Requested: Prepare the 2013 Cash Flow Report using the indirect method.
PT. INDONESIA ONE Corporation as of 31-12-2013 & 2012 are as follows (In US $): 12-31-2013 12-31-2012 Assets Cash 464.100 395.800 Trade receivables (net) 163,200 145,700 Needs 395.000 367,900 Investment 120,000 Land of 160,000 Equipment 695,500 575,500 Accumulated depreciation of equipment (194,000) (168,000) 1,683,800 1,436.900 Liabilities & Equity Trade payables 228,700 210,500 Debt costs 16,500 21,400 dividend debt 14.000 10.000 Common stock capital, nominal $10 75,000 60,000 Agio common shares 265,000 175,000 Income of 1,084,600 960,000 1.683.800 1.436.900 The income statement for the year ended 31-12-2013 (In US $) is: Sales of Cost of goods sold gross profit 1,580,500 957,300 623,200 Operating expenses Depreciation expense 26.000 Other operating expenses 329,400 Total operating expenses of 355,400 Operating Profit 267,800 Other income Gains on investment sales of 12.000 Profit before income tax 279,800 Education Tax 99,200 net profit 180.600Step by Step Solution
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