help me in accountingquestion MARIN COMPANYComparative Balance SheetsDecember 31Assets20102009$ 41,00077,000$ 57,00064,000CashAccounts receivable172,000140,000InventoryPrepaid expensesLand12,14016,540110,000150,000EquipmentAccumulated depreciation-equipmentBuildingAccumulated depreciation-building215,000(70,000)250,000175,000(42,000)250,000(50,000)$760,540(70,000)Total$737,140Liabilities and Stockholders' Equity$ 58,000235,000$ 45,000265,000Accounts payableBonds payableCommon stock, $1 parRetained earnings280,000250,000164,140200,540Total$737,140$760,540Additional information:1. Operating expenses include depreciation expense $55,000 and charges from prepaidexpenses of $4,400.2. Land was sold for cash at cost.3. Cash dividends of $84,290 were paid.4. Net income for 2010 was $47,890.5. Equipment was purchased for $80,000 cash. In addition, equipment costing $40,000 with abook value of $33,000 was sold for $37,000 cash.6. Bonds were converted at face value by issuing 30,000 shares of $1 par value common stock.InstructionsPrepare a statement of cash flows for 2010 using the indirect method.

Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

MARIN COMPANY Comparative Balance Sheets December 31 Assets 2010 2009 $ 41,000 $ 57,000 64,000 Cash Accounts receivable 77,000 172,000 Inventory Prepaid expenses 140,000 12,140 16,540 150,000 Land 110,000 Equipment Accumulated depreciation-equipment Building Accumulated depreciation-building 215,000 (70,000) 250,000 (70,000) 175,000 (42,000) 250,000 (50,000) Total $737,140 $760,540 Liabilities and Stockholders' Equity $ 58,000 235,000 Accounts payable Bonds payable Common stock, $1 par Retained earnings $ 45,000 265,000 250,000 200,540 280,000 164,140 Total $737,140 $760,540 Additional information: .. Operating expenses include depreciation expense $55,000 and charges from prepaid expenses of $4,400. 2. Land was sold for cash at cost. . Cash dividends of $84,290 were paid. . Net income for 2010 was $47,890. S. Equipment was purchased for $80,000 cash. In addition, equipment costing $40,000 with a pook value of $33,000 was sold for $37,000 cash. . Bonds were converted at face value by issuing 30,000 shares of $1 par value common stock. nstructions Prepare a statement of cash flows for 2010 using the indirect method.

MARIN COMPANY Comparative Balance Sheets December 31 Assets 2010 2009 $ 41,000 $ 57,000 64,000 Cash Accounts receivable 77,000 172,000 Inventory Prepaid expenses 140,000 12,140 16,540 150,000 Land 110,000 Equipment Accumulated depreciation-equipment Building Accumulated depreciation-building 215,000 (70,000) 250,000 (70,000) 175,000 (42,000) 250,000 (50,000) Total $737,140 $760,540 Liabilities and Stockholders' Equity $ 58,000 235,000 Accounts payable Bonds payable Common stock, $1 par Retained earnings $ 45,000 265,000 250,000 200,540 280,000 164,140 Total $737,140 $760,540 Additional information: .. Operating expenses include depreciation expense $55,000 and charges from prepaid expenses of $4,400. 2. Land was sold for cash at cost. . Cash dividends of $84,290 were paid. . Net income for 2010 was $47,890. S. Equipment was purchased for $80,000 cash. In addition, equipment costing $40,000 with a pook value of $33,000 was sold for $37,000 cash. . Bonds were converted at face value by issuing 30,000 shares of $1 par value common stock. nstructions Prepare a statement of cash flows for 2010 using the indirect method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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