acc/291

posted by .

I got problem P-13-9-A allfigured out I just can'tP13-9A Condensed financial data of Arma Inc. follow.
ARMA INC.
Income Statement
For the Year Ended December 31, 2011
Sales $392,780
Less:
Cost of goods sold $135,460
Operating expenses, excluding
depreciation 12,410
Depreciation expense 46,500
Income taxes 27,280
Interest expense 4,730
Loss on sale of plant assets 7,500 233,880
Net income $158,900
ARMA INC.
Comparative Balance Sheets
December 31
Assets 2011 2010
Cash $ 90,800 $ 48,400
Accounts receivable 92,800 33,000
Inventories 112,500 102,850
Prepaid expenses 28,400 26,000
Investments 138,000 114,000
Plant assets 270,000 242,500
Accumulated depreciation (50,000) (52,000)
Total $682,500 $514,750
Liabilities and Stockholders’ Equity
Accounts payable $112,000 $ 67,300
Accrued expenses payable 16,500 17,000
Bonds payable 110,000 150,000
Common stock 220,000 175,000
Retained earnings 224,000 105,450
Total $682,500 $514,750
Additional information:
1. New plant assets costing $85,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $57,500 were sold for $1,500 cash.
3. Bonds matured and were paid off at face value for cash.
4. A cash dividend of $40,350 was declared and paid during the year.
Instructions
Prepare a statement of cash flows using the indirect method.
*P13-10A Data for Arma Inc. are presented in P13-9A. Further analysis reveals that accounts
payable pertain to merchandise creditors.
Instructions
Prepare a statement of cash flows for Arma Inc. using the direct method. figure out problem p-13-10- A

please any help

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Principles of Finance HELP!!!

    Problem 16-7. Pro forma income statement At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Sales 3000 Operating costs excluding depreciation 2450 EBITDA 550 Depreciation 250 EBIT …
  2. Business

    Which of the following is true concerning the preparation of financial statements?
  3. Accounting

    Given the following information for the fiscal year ended June 30, 2001: Product sales: 28,189,612 Service sales: 11,688,793 Cost of goods sold- products: 10,633,956 Cost of goods sold- services: 5,869,106 Operating expense: 14,904,460 …
  4. accounting

    Express the following comparative income statements in common- size percents and assess whether or not this company’s situation has improved in the most recent year. 5 points) MULAN CORPORATION Comparative Income Statements For Years …
  5. Finance

    3. Determine the operating cash flow (OCF) for Kleczka, Inc., based on the following data. (All values are in thousands of dollars.) During the year the firm had sales of $2,500, cost of goods sold totaled $1,800, operating expenses …
  6. Financial Accounting

    E3-30A. Account for depreciation expense. (LO 1, 3). Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth …
  7. Financial Accounting 1

    Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth approximately $5,000. The company uses straight- line …
  8. Fundamentals of finance

    "Genatron wants to estimate what will happen to its income before interest and taxes if its net sales change from the 2012 level of $1,500,000. Refer to Genatron’s 2012 income statement below, where the income before interest and …
  9. Fundamentals of finance

    "Genatron wants to estimate what will happen to its income before interest and taxes if its net sales change from the 2012 level of $1,500,000. Refer to Genatron’s 2012 income statement below, where the income before interest and …
  10. financial accounting

    Zumbrunn Company’s income statement contained the condensed information below. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2015 Service revenue $969,400 Operating expenses, excluding depreciation $624,480 Depreciation …

More Similar Questions