Question
The following information shows the changes in Mexican pesos of the balance sheet accounts of the company La Nortea at December 31 2014 compared to
The following information shows the changes in Mexican pesos of the balance sheet accounts of the company La Nortea at December 31 2014 compared to year 2013 .
In pesos mexicanos (MXP$) | ||||
IVA Receivable | ($13,000) | Suppliers A/P payable | $27,000 | |
Clients A/R receivables | ($70,000) | Taxes payable | ($1,000) | |
Advances from customers | ($10,000) | Building | $100,000 | |
Capital stock | $12,000 | Bank loan L.T. | $140,000 | |
Inventories | $90,000 | Unearned Sales | ($16,000) | |
Office equipment | $35,000 | Rents paid in advance | $7,000 | |
Franchise | $14,000 | Accumulated Amortization | $10,000 | |
Accumulated Depreciation | $1,500 | Bonds payable > 1 Year | ($65,000) | |
Reserve for expansion | $6,000 | Premium on Stock | $9,000 |
Additional company information in Mexican pesos ( MXP $ ):
Net income for 2014 | $83,000 | Retained Earnings 31 December 2014 | $114,000 | |
Retained Earnings on December 31, 2013 | $55,000 |
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Calculate the Financing Cash flow in $ ?
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