E13-1 Pioneer Corporation had the transactions below during 2011. Analyze the transactions and indic
Stuck with a difficult assignment? No time to get your paper done? Feeling confused? If you’re looking for reliable and timely help for assignments, you’ve come to the right place. We promise 100% original, plagiarism-free papers custom-written for you. Yes, we write every assignment from scratch and it’s solely custom-made for you.
Order a Similar Paper Order a Different Paper
E13-1
Pioneer Corporation had the transactions below during 2011.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Issued $50,000 par value common stock for cash.
(b)
Purchased a machine for $30,000, giving a long-term note in exchange.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $18,000. Document Preview:
E13-1
Pioneer Corporation had the transactions below during 2011.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Issued $50,000 par value common stock for cash.
(b)
Purchased a machine for $30,000, giving a long-term note in exchange.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $18,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
javascript:void();Click here if you would like to Show Work for this question
E13-8
Here are comparative balance sheets for Taguchi Company.
TAGUCHI COMPANY
Comparative Balance Sheets
December 31
Assets
2011
2010
Cash
$73,000
$22,000
Accounts receivable
85,000
76,000
Inventories
170,000
189,000
Land
75,000
100,000
Equipment
260,000
200,000
Accumulated depreciation
(66,000)
(32,000)
Total
$597,000
$555,000
Liabilities and Stockholders’ Equity
Accounts payable
$39,000
$47,000
Bonds payable
150,000
200,000
Common stock ($1 par)
216,000
174,000
Retained earnings
192,000
134,000
Total
$597,000
$555,000
Additional information:
Net income for 2011 was $103,000.
Cash dividends of $45,000 were declared and paid.
Bonds payable amounting to $50,000 were redeemed for cash $50,000.
Common stock was issued for $42,000 cash.
No equipment was sold during 2011, but land was sold at cost.
Complete the statement of cash flows for 2011 using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use…
Attachments:
We’ve proficient writers who can handle both short and long papers, be they academic or non-academic papers, on topics ranging from soup to nuts (both literally and as the saying goes, if you know what we mean). We know how much you care about your grades and academic success. That's why we ensure the highest quality for your assignment. We're ready to help you even in the most critical situation. We're the perfect solution for all your writing needs.
Get a 15% discount on your order using the following coupon code SAVE15
Order a Similar Paper Order a Different Paper