ODGERS INC.
Comparative Balance Sheets
December ">

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Condensed financial data of Odgers Inc. follow. ODGERS INC.-(Answered)

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Condensed financial data of Odgers Inc. follow.


ODGERS INC.
Comparative Balance Sheets
December 31
Assets 2014 2013
Cash $?163,216 $?97,768
Accounts receivable 177,356 76,760
Inventory 227,250 207,757
Prepaid expenses 57,368 52,520
Long-term investments 278,760 220,180
Plant assets 575,700 489,850
Accumulated depreciation (101,000 ) (105,040 )
Total $1,378,650 ? $1,039,795 ?
Liabilities and Stockholders? Equity
Accounts payable $?206,040 $?135,946
Accrued expenses payable 33,330 42,420
Bonds payable 222,200 294,920
Common stock 444,400 353,500
Retained earnings 472,680 ? 213,009 ?
Total $1,378,650 ? $1,039,795 ?


ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue $784,689
Less:
?????Cost of goods sold $273,629
?????Operating expenses, excluding depreciation 25,068
?????Depreciation expense 93,930
?????Income tax expense 55,106
?????Interest expense 9,555
?????Loss on disposal of plant assets 15,150 472,438
Net income $?312,251


Additional information:


1. New plant assets costing $202,000?were purchased for cash during the year.
2. Old plant assets having an original cost of $116,150?and accumulated depreciation of $97,970?were sold for $3,030?cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $52,580?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 e.g. -15,000 or in parenthesis e.g. (15,000).)


ODGERS INC.
Statement of Cash Flows
For the Year Ended December 31, 2014
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
????Purchase of Plant Assets????Purchase of Investments????Depreciation Expense????Sale of Common Stock????Increase in Inventory????Payment of Cash Dividends????Decrease in Inventory????Redemption of Bonds????Increase in Accounts Receivable????Increase in Accrued Expenses Payable????Net Income????Increase in Accounts Payable????Decrease in Accounts Payable????Loss on Disposal of Plant Assets????Decrease in Accrued Expenses Payable????Increase in Prepaid Expenses????Decrease in Prepaid Expenses????Decrease in Accounts Receivable????Sale of Plant Assets???? $
Adjustments to reconcile net income to
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
????Increase in Prepaid Expenses????Decrease in Inventory????Depreciation Expense????Increase in Accrued Expenses Payable????Decrease in Prepaid Expenses????Net Income????Increase in Accounts Payable????Increase in Inventory????Increase in Accounts Receivable????Decrease in Accounts Payable????Decrease in Accounts Receivable????Purchase of Investments????Loss on Disposal of Plant Assets????Decrease in Accrued Expenses Payable????Sale of Plant Assets????Purchase of Plant Assets????Sale of Common Stock????Redemption of Bonds????Payment of Cash Dividends???? $
????Decrease in Prepaid Expenses????Depreciation Expense????Purchase of Plant Assets????Net Income????Decrease in Accounts Payable????Increase in Accounts Payable????Increase in Prepaid Expenses????Loss on Disposal of Plant Assets????Increase in Accounts Receivable????Sale of Common Stock????Decrease in Accrued Expenses Payable????Purchase of Investments????Increase in Accrued Expenses Payable????Increase in Inventory????Payment of Cash Dividends????Decrease in Inventory????Decrease in Accounts Receivable????Sale of Plant Assets????Redemption of Bonds????
????Increase in Prepaid Expenses????Decrease in Accounts Receivable????Decrease in Prepaid Expenses????Sale of Plant Assets????Increase in Accounts Receivable????Decrease in Accrued Expenses Payable????Increase in Inventory????Decrease in Inventory????Purchase of Plant Assets????Payment of Cash Dividends????Net Income????Purchase of Investments????Sale of Common Stock????Redemption of Bonds????Depreciation Expense????Increase in Accounts Payable????Decrease in Accounts Payable????Loss on Disposal of Plant Assets????Increase in Accrued Expenses Payable????
????Sale of Common Stock????Loss on Disposal of Plant Assets????Depreciation Expense????Decrease in Inventory????Sale of Plant Assets????Decrease in Accounts Receivable????Decrease in Accrued Expenses Payable????Increase in Accounts Payable????Payment of Cash Dividends????Redemption of Bonds????Decrease in Prepaid Expenses????Increase in Accrued Expenses Payable????Net Income????Purchase of Investments????Increase in Accounts Receivable????Decrease in Accounts Payable????Increase in Prepaid Expenses????Increase in Inventory????Purchase of Plant Assets????
????Depreciation Expense????Increase in Accounts Payable????Decrease in Accounts Payable????Sale of Plant Assets????Decrease in Accrued Expenses Payable????Decrease in Inventory????Purchase of Plant Assets????Sale of Common Stock????Increase in Inventory????Increase in Accrued Expenses Payable????Loss on Disposal of Plant Assets????Increase in Accounts Receivable????Decrease in Accounts Receivable????Purchase of Investments????Increase in Prepaid Expenses????Payment of Cash Dividends????Redemption of Bonds????Decrease in Prepaid Expenses????Net Income????
????Redemption of Bonds????Increase in Accounts Payable????Payment of Cash Dividends????Increase in Accounts Receivable????Depreciation Expense????Purchase of Plant Assets????Decrease in Accounts Receivable????Sale of Common Stock????Decrease in Accounts Payable????Increase in Accrued Expenses Payable????Purchase of Investments????Sale of Plant Assets????Decrease in Accrued Expenses Payable????Increase in Prepaid Expenses????Decrease in Inventory????Loss on Disposal of Plant Assets????Net Income????Decrease in Prepaid Expenses????Increase in Inventory????
????Decrease in Accounts Payable????Payment of Cash Dividends????Increase in Prepaid Expenses????Purchase of Investments????Purchase of Plant Assets????Redemption of Bonds????Decrease in Prepaid Expenses????Loss on Disposal of Plant Assets????Increase in Inventory????Sale of Common Stock????Decrease in Inventory????Increase in Accounts Receivable????Decrease in Accrued Expenses Payable????Decrease in Accounts Receivable????Increase in Accrued Expenses Payable????Sale of Plant Assets????Net Income????Depreciation Expense????Increase in Accounts Payable????
????Cash at Beginning of Period????Cash at End of Period????Cash Flows from Financing Activities????Cash Flows from Investing Activities????Cash Flows from Operating Activities????Net Cash Provided by Financing Activities????Net Cash Provided by Investing Activities????Net Cash Provided by Operating Activities????Net Cash used by Financing Activities????Net Cash used by Investing Activities????Net Cash used by Operating Activities????Net Decrease in Cash????Net Increase in Cash????
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
????Decrease in Prepaid Expenses????Increase in Inventory????Loss on Disposal of Plant Assets????Decrease in Accounts Payable????Increase in Accounts Receivable????Decrease in Accrued Expenses Payable????Net Income????Payment of Cash Dividends????Increase in Accrued Expenses Payable????Decrease in Inventory????Decrease in Accounts Receivable????Increase in Prepaid Expenses????Sale of Plant Assets????Purchase of Investments????Purchase of Plant Assets????Sale of Common Stock????Redemption of Bonds????Depreciation Expense????Increase in Accounts Payable????
????Sale of Plant Assets????Decrease in Accounts Receivable????Depreciation Expense????Purchase of Investments????Purchase of Plant Assets????Sale of Common Stock????Increase in Accounts Receivable????Payment of Cash Dividends????Redemption of Bonds????Loss on Disposal of Plant Assets????Increase in Prepaid Expenses????Decrease in Inventory????Increase in Accrued Expenses Payable????Net Income????Increase in Accounts Payable????Increase in Inventory????Decrease in Accounts Payable????Decrease in Accrued Expenses Payable????Decrease in Prepaid Expenses????
????Sale of Common Stock????Net Income????Decrease in Accounts Receivable????Increase in Prepaid Expenses????Redemption of Bonds????Increase in Inventory????Payment of Cash Dividends????Sale of Plant Assets????Increase in Accrued Expenses Payable????Purchase of Investments????Depreciation Expense????Purchase of Plant Assets????Increase in Accounts Payable????Decrease in Accounts Payable????Decrease in Inventory????Decrease in Accrued Expenses Payable????Loss on Disposal of Plant Assets????Decrease in Prepaid Expenses????Increase in Accounts Receivable????
????Cash at Beginning of Period????Cash at End of Period????Cash Flows from Financing Activities????Cash Flows from Investing Activities????Cash Flows from Operating Activities????Net Cash Provided by Financing Activities????Net Cash Provided by Investing Activities????Net Cash Provided by Operating Activities????Net Cash used by Financing Activities????Net Cash used by Investing Activities????Net Cash used by Operating Activities????Net Decrease in Cash????Net Increase in Cash????
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
????Increase in Accounts Payable????Increase in Inventory????Sale of Common Stock????Decrease in Inventory????Decrease in Accrued Expenses Payable????Loss on Disposal of Plant Assets????Decrease in Prepaid Expenses????Increase in Accounts Receivable????Payment of Cash Dividends????Redemption of Bonds????Increase in Accrued Expenses Payable????Decrease in Accounts Receivable????Purchase of Investments????Sale of Plant Assets????Depreciation Expense????Decrease in Accounts Payable????Net Income????Increase in Prepaid Expenses????Purchase of Plant Assets????
????Decrease in Inventory????Decrease in Prepaid Expenses????Purchase of Plant Assets????Increase in Accounts Payable????Sale of Plant Assets????Increase in Inventory????Decrease in Accounts Receivable????Purchase of Investments????Increase in Accounts Receivable????Sale of Common Stock????Payment of Cash Dividends????Increase in Prepaid Expenses????Loss on Disposal of Plant Assets????Decrease in Accounts Payable????Redemption of Bonds????Net Income????Depreciation Expense????Decrease in Accrued Expenses Payable????Increase in Accrued Expenses Payable????
????Redemption of Bonds????Decrease in Accounts Payable????Increase in Accounts Payable????Increase in Inventory????Increase in Accrued Expenses Payable????Decrease in Accounts Receivable????Loss on Disposal of Plant Assets????Sale of Plant Assets????Depreciation Expense????Decrease in Accrued Expenses Payable????Net Income????Increase in Accounts Receivable????Increase in Prepaid Expenses????Decrease in Prepaid Expenses????Decrease in Inventory????Purchase of Investments????Purchase of Plant Assets????Sale of Common Stock????Payment of Cash Dividends????
????Cash at Beginning of Period????Cash at End of Period????Cash Flows from Financing Activities????Cash Flows from Investing Activities????Cash Flows from Operating Activities????Net Cash Provided by Financing Activities????Net Cash Provided by Investing Activities????Net Cash Provided by Operating Activities????Net Cash used by Financing Activities????Net Cash used by Investing Activities????Net Cash used by Operating Activities????Net Decrease in Cash????Net Increase in Cash????
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
?Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash

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Paper#9256059 | Written in 27-Jul-2016

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