Exercise 23-11 Condensed financial data of Pat Metheny Company for 2014 and 2013
ID: 2416459 • Letter: E
Question
Exercise 23-11 Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 2014 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2013 $1,096 1,309 1,906 1,697 $1,804 1,742 1,594 1,893 (1,206(1,162) (1,206) (1,162) 1,294 1,467 $6,313 $7,121 Accounts payable Accrued liabilities Bonds payable Capital stock Retained earnings $1,204 219 1,411 1,895 2,392 $7,121 $792 239 1,640 1,699 1,943 $6,313Explanation / Answer
Statement of Cash flows
Add : Decrease in Current Asset
Increase in Current Liabilities
Less : Increase in Current Asset /
Decrease in curent Liabilities
Particulars Amount Cash flow from operating activities Net income as per statement $ 449 Add/less : Non Cash/ operating expenses / incomes Dividends $ 270 Gain on sale of investment - $ 80 Net operating income $ 639Add : Decrease in Current Asset
Increase in Current Liabilities
Inventory $ 312 Accounts Payable $ 412Less : Increase in Current Asset /
Decrease in curent Liabilities
Account receivable - $ 433 Accrued Liabilities - $ 20 Net Cash flow from operating activities A $ 910 Cash from Investing Activities Net change in Planned Asset ( 152 - 63) - $ 89 Sale of Investments $ 173 Gain on sale of Investment $ 80 Net Cash Flow from Investing activities B $ 164 Cash Flow from financing Activities Repayment of Bonds - $ 229 Issue of commont stock ( 196 - 63) $ 133 Dividend Paid - $ 270 Cash Used in Financing activities C - $ 366 Net Change in Cash (A+ B+ C) $ 708 Opening Cash $ 1,096 Closing Cash $ 1,804Related Questions
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