Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Management Posted 01 Nov 2017 My Price 10.00

Marcus Inc

P23-6 (SCF—Indirect Method, and Net Cash Flow from Operating Activities, Direct Method) Comparative balance sheet accounts of Marcus Inc. are presented below.

Additional data (ignoring taxes):

1. Net income for the year was $42,500.

2. Cash dividends declared and paid during the year were $21,125.

3. A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized.

4. Investments that cost $25,000 were sold during the year for $28,750.

5. Machinery that cost $3,750, on which $750 of depreciation had accumulated, was sold for $2,200. Marcus’s 2014 income statement follows (ignoring taxes).

Instructions

(a) Compute net cash flow from operating activities using the direct method.

(b) Prepare a statement of cash flows using the indirect method.

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Nov 2017 07:11 PM My Price 10.00

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