ODGERS INC. – statement of cash flows using the indirect method
\nODGERS INC. – statement of cash flows using the indirect method
\nODGERS INC.
\nComparative Balance Sheets
\nDec-31
\nAssets 2014 2013
\nCash $ 180,184 $ 107,932
\nAccounts receivable 1,95,794 84,740
\nInventory 2,50,875 2,29,356
\nPrepaid expenses 63,332 57,980
\nLong-term investments 3,07,740 2,43,070
\nPlant assets 6,35,550 5,40,775
\nAccumulated depreciation (111,500 ) (115,960 )
\nTotal $1,521,975 $1,147,893<\/p>\n
Liabilities and Stockholders\u2019 Equity
\nAccounts payable $ 227,460 $ 150,079
\nAccrued expenses payable 36,795 46,830
\nBonds payable 2,45,300 3,25,580
\nCommon stock 4,90,600 3,90,250
\nRetained earnings 5,21,820 2,35,154
\nTotal $1,521,975 $1,147,893<\/p>\n
ODGERS INC.
\nIncome Statement Data
\nFor the Year Ended December 31, 2014
\nSales revenue $866,266
\nLess:
\nCost of goods sold $302,076
\nOperating expenses, excluding depreciation 27,674
\nDepreciation expense 1,03,695
\nIncome tax expense 60,834
\nInterest expense 10,548
\nLoss on disposal of plant assets 16,725 5,21,552
\nNet income $ 344,714<\/p>\n
Additional information:<\/p>\n
1 New plant assets costing $223,000 were purchased for cash during the year.
\n2 Old plant assets having an original cost of $128,225 and accumulated depreciation of $108,155 were sold for $3,345 cash.
\n3 Bonds payable matured and were paid off at face value for cash.
\n4 A cash dividend of $58,048 was declared and paid during the year.<\/p>\n
Prepare a statement of cash flows using the indirect method.<\/p>\n","protected":false},"excerpt":{"rendered":"
ODGERS INC. – statement of cash flows using the indirect method ODGERS INC. – statement of cash flows using the indirect method ODGERS INC. Comparative Balance Sheets Dec-31 Assets 2014 2013 Cash $ 180,184 $ 107,932 Accounts receivable 1,95,794 84,740 Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19146","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/19146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=19146"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/19146\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=19146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=19146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=19146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}