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Advanced accounting (cash flow)

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I have attached a file that includes the following information, as well as charts.

Statement of Cash Flows Team Assignment

Robin Corporation's balance sheet on December 31, 2012 included the following items:

Cash $ 35,000 Current Liabilities $ 150,000
Other Current Assets 200,000 Bonds Payable 100,000
Land 30,000 Common Stock 180,000
Building 120,000 Retained Earnings 44,000
Equipment 90,000
Accum. Deprec. - Building (30,000)
Accum. Deprec. - Equipment (11,000)
Patents 40,000
Total $ 474,000 Total $ 474,000

The following information is available for 2013:

1. Net income was $46,000.
2. Equipment (cost, $20,000 and accumulated depreciation, $8,000) was sold for $10,000.
3. Depreciation expense was $3,000 on the building and $9,000 on equipment.
4. Patent amortization was $5,000.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $13,000.
6. An addition to the building was completed at a cost of $20,000.
7. A long-term investment in stock was purchased for $16,000.
8. Bonds payable of $50,000 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $9,000.

Prepare a statement of cash flows for the year ended December 31, 2013 and a Balance Sheet at December 31, 2013.

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Solution Summary

Advanced accounting for Robin Corporation's balance sheets are provided.

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Radhika Lakshmi, MPhil
Education
  • MPhil, Madurai Kamaraj University
  • MCom, Annamalai University
  • IATA, International Air Transport Association
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