Statement of Cash Flows—Indirect Method
The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:
Dec. 31, 20Y2 | Dec. 31, 20Y1 | ||||
Assets | |||||
Cash | $203 | $65 | |||
Accounts receivable (net) | 116 | 81 | |||
Inventories | 73 | 44 | |||
Land | 166 | 184 | |||
Equipment | 93 | 71 | |||
Accumulated depreciation-equipment | (25) | (13) | |||
Total Assets | $626 | $432 | |||
Liabilities and Stockholders' Equity | |||||
Accounts payable (merchandise creditors) | $79 | $65 | |||
Dividends payable | 13 | - | |||
Common stock, $10 par | 41 | 20 | |||
Paid-in capital: Excess of issue price over par—common stock | 103 | 51 | |||
Retained earnings | 390 | 296 | |||
Total liabilities and stockholders' equity | $626 | $432 |
The following additional information is taken from the records:
a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
Olson-Jones Industries, Inc. | ||
Statement of Cash Flows | ||
For the Year Ended December 31, 20Y2 | ||
Cash flows from operating activities: | ||
$ | ||
Adjustments to reconcile net income to net cash flow from operating activities: | ||
Changes in current operating assets and liabilities: | ||
Net cash flow from operating activities | $ | |
Cash flows from investing activities: | ||
$ | ||
Net cash flow provided by investing activities | ||
Cash flows from financing activities: | ||
$ | ||
Net cash flow provided by financing activities | ||
$ | ||
Cash at the beginning of the year | ||
Cash at the end of the year | $ |
b. Was Olson-Jones’s net cash flow from
operations more or less than net income?
The source(s) of the difference are:
for formulas and calculations, refer to the image below
-
In case you have any query, kindly ask in comments.
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $197 $65 Accounts receivable (net) 113 81 Inventories 71 44 Land 161 183 Equipment 91 71 Accumulated depreciation-equipment (24) (12) Total Assets $609 $432 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $77 $65 Dividends payable 12 - Common stock, $1 par 40 20 Paid-in capital: Excess of issue price...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $114 $36 Accounts receivable (net) 65 45 Inventories 41 25 Land 94 102 Equipment 53 39 Accumulated depreciation-equipment (14) (7) Total Assets $353 $240 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $44 $36 Dividends payable 7 - Common stock, $1 par 23 11 Paid-in capital: Excess of issue price...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $193 $62 Accounts receivable (net) 110 77 Inventories 69 42 Land 158 175 Equipment 89 67 Accumulated depreciation-equipment (24) (12) Total Assets $595 $411 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $75 $62 Dividends payable 12 - Common stock, $1 par 39 19 Paid-in capital: Excess of issue price...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $192 $61 Accounts receivable (net) 109 76 Inventories 68 42 Land 156 172 Equipment 88 67 Accumulated depreciation-equipment (24) (12) Total Assets $589 $406 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $74 $61 Dividends payable 12 - Common stock, $10 par 39 19 Paid-in capital: Excess of issue price...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $136 $44 Accounts receivable (net) 78 55 Inventories 49 30 Land 112 127 Equipment 63 48 Accumulated depreciation-equipment (17) (9) Total Assets $421 $295 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $53 $44 Dividends payable 8 - Common stock, $1 par 28 14 Paid-in capital: Excess of issue price...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $183 $14 Accounts receivable (net) 55 49 Inventories 117 99 Land 250 330 Equipment 205 175 Accumulated depreciation—equipment (68) (42) Total assets $742 $625 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $51 $37 Dividends payable 5 - Common stock, $1 par 125 80 Paid-in capital in excess of par—common...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $185 $60 Accounts receivable (net) 105 75 Inventories 66 41 Land 151 169 Equipment 85 65 Accumulated depreciation-equipment (23) (12) Total Assets $569 $398 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $72 $60 Dividends payable 11 - Common stock, $1 par 38 19 Paid-in capital: Excess of issue price...
tatement of Cash Flows—Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $203 $66 Accounts receivable (net) 115 83 Inventories 72 46 Land 165 188 Equipment 93 72 Accumulated depreciation-equipment (25) (13) Total Assets $623 $442 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $78 $66 Dividends payable 12 - Common stock, $10 par 41 21 Paid-in capital: Excess of issue price...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, Dec. 31, 2012 2011 Assets $155 Cash Accounts receivable (net) Inventories U Land Equipment Accumulated depreciation equipment (19) (10) Total Assets $476 $343 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings 236 307 $476 Total liabilities and stockholders'...
statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec. 31, Dec. 31, 2011 Assets 2012 Cash $145 Accounts receivable (net) Inventories Land Equipment Accumulated depreciation equipment (18) Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid in capital: Excess of issue price over par- common stock Retained earnings Total liabilities and stockholders equity Total liabilities and stockholders' equity...