Chapter 13 Statement of Cash Flows 667 VEX 13-17 Statement of cash flows-indirect method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Obj. 2, 3, 4, 5 V Net cash flow from operating activities, $38 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net). $183 $ 14 EXCEL TEMPLATE SNOW ME HOW 49 55 Inventories Land 117 99 .... 250 330 Equipment... Accumulated depreciation-equipment Total assets.... 205 175 (68) $742 (42) $625 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable.. Common stock, $1 par. Paid-in capital in excess of par-common stock Retained earnings.. Total liabilities and stockholders' equity.. $51 $ 37 125 80 85 70 438 $625 476 $742 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was 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 $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. b. Was Olson-Jones's net cash flow from operations more or less than net income? What is the source of this difference?
Chapter 13 Statement of Cash Flows 667 VEX 13-17 Statement of cash flows-indirect method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Obj. 2, 3, 4, 5 V Net cash flow from operating activities, $38 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net). $183 $ 14 EXCEL TEMPLATE SNOW ME HOW 49 55 Inventories Land 117 99 .... 250 330 Equipment... Accumulated depreciation-equipment Total assets.... 205 175 (68) $742 (42) $625 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable.. Common stock, $1 par. Paid-in capital in excess of par-common stock Retained earnings.. Total liabilities and stockholders' equity.. $51 $ 37 125 80 85 70 438 $625 476 $742 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was 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 $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. b. Was Olson-Jones's net cash flow from operations more or less than net income? What is the source of this difference?
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 13.3APR
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Only EX 13-17 can please make sure I have everything because I have only 3 questions left for the rest of my homework I do have thank you?I send the hole page of the book it's because I cannot take the picture EX 13-17 the way I want it, sorry.
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