Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribedimage text in transcribed

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 180.600

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_2

Step: 3

blur-text-image_3

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

A Practical Guide To UK Accounting And Auditing Standards

Authors: Steve Collings

1st Edition

152650331X, 9781526503312

More Books

Students also viewed these Accounting questions