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(Answered) Unit 9 Accounting 16-1A The comparative balance sheet of


Unit 9 Accounting 16-1A

 

The comparative balance sheet of
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Unit 9 Accounting 16-1A,

 

,

 

The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2010 and,

 

2009, is shown as follows:,

 

Dec. 31, 2010 Dec. 31, 2009,

 

Assets,

 

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 312,880 $ 292,960,

 

Accounts receivable (net) . . . . . . . . . . . . . . . . . . . . 113,920 104,480,

 

Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,880 308,560,

 

Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 120,000,

 

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164,000 0,

 

Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 352,560 276,560,

 

Accumulated depreciation?equipment . . . . . . . . . . ____(_8_3_,_2_0__0) ____(_7_4_,_0_0_0_),

 

$____1__,1____8__1__,__0__4____0 $__1____,0____2__8__,__5__6__0__,

 

Liabilities and Stockholders? Equity,

 

Accounts payable (merchandise creditors) . . . . . . . . $ 214,240 $ 202,480,

 

Accrued expenses payable (operating expenses) . . . 21,120 26,320,

 

Dividends payable . . . . . . . . . . . . . . . . . . . . . . . . . 12,000 9,600,

 

Common stock, $10 par. . . . . . . . . . . . . . . . . . . . . 64,000 48,000,

 

Paid-in capital in excess of par?common stock . . . . 240,000 140,000,

 

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . ___6__2_9_,_6_8__0 ___6__0_2_,_1_6_0_,

 

__$__1__,1____8__1__,__0__4____0 $__1____,0____2__8__,__5__6__0__,

 

The following additional information was taken from the records:,

 

a. The investments were sold for $140,000 cash.,

 

b. Equipment and land were acquired for cash.,

 

c. There were no disposals of equipment during the year.,

 

d. The common stock was issued for cash.,

 

e. There was a $75,520 credit to Retained Earnings for net income.,

 

f. There was a $48,000 debit to Retained Earnings for cash dividends declared.,

 

Instructions,

 

Prepare a statement of cash flows, using the indirect method of presenting cash flows,

 

from operating activities.,

 

Please find attached the template too use

 


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