Problem 12-9A Condensed financial data of Odgers Inc

Subject:AccountingPrice:2.85 Bought3

Share With

Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 2013 2014 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total $ 105,040$62,920 49,400 146,250 133,705 33,800 179,400 141,700 315,250 114,140 36,920 370,500 (65,000) (67,600) $887,250 $669,175 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $132,600 $87,490 27,300 189,800 227,500 137,085 $887,250 $669,175 21,450 143,000 286,000 304,200 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue Less: $504,998
Income Statement Data Sales revenue Less: $504,998 Cost of goods sold $176,098 16,133 60,450 35,464 6,149 Operating expenses, excluding depreciation Depredlation expense Income tax expense Interest expense Loss on disposal of plant assets Net income 9750 304.041 200,954 Additional information: 1. New plant assets costing $130,000 were purchased for cash during the year 2. Old plant assets having an original cost of $74,750 and accumulated depreciation of $63,050 were sold for $1,950 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $33,839 was declared and paid during the year Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign eg. -15,000 or in parenthesis eo. (15,000)) ODGERS INC Statement of Cash Flows For the Year Ended December 31, 2014 Adjustments to recondile net income to
ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014 Adjustments to reconcile net income to
CALCULATORMESSAGE M LINK TO TEXT