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Title: The following selected data for the Food Factory Corporation were gathered by the accountants for ... Post by: Tomm on Nov 11, 2017 The following selected data for the Food Factory Corporation were gathered by the accountants for the year ended December 31, 2013, who are responsible for preparing the financial statements:
Cost of goods sold $47,300 depreciation expense 14,100 Other operating expenses 15,700 Loss on sale of investments 1,900 Gain on sale of capital assets 6,200 Sales revenue 99,700 Interest revenue 7,100 Dividend revenue 3,200 Salary expense 24,700 Interest expense 5,200 Income tax expense 2,700 Net income 4,600 The cash account began the year with a balance of $32,500 and ended the year with a balance of $191,500. Other relevant data gathered by the accountants: Accounts receivable decreased $12,600 Inventory increased 7,800 Prepaid expenses decreased 2,300 Accounts payable increased 19,400 Salary payable increased 1,400 Accrued liabilities decreased 4,900 Income tax payable increased 700 Acquisition of capital assets 42,000 Issuance of common shares 75,000 Proceeds from sale of investments 29,000 Collection of loan principal 25,200 Payment of dividends 18,000 Purchased equipment by signing a note payable 25,000 Proceeds from sale of capital assets 26,700 Proceeds from sale of repurchased shares 25,000 Prepare the cash flow statement for the year ended December 31, 2013 under ASPE, using the indirect method and including a schedule of noncash investing and financing activities, if necessary. Title: Re: The following selected data for the Food Factory Corporation were gathered by the accountants ... Post by: TheSin on Nov 11, 2017 Content hidden
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