Refer to the information for Oliver Company given below: Information for Oliver Company Oliver Company provided the
Question:
Information for Oliver Company
Oliver Company provided the following information for the years 2011 and 2012:
Required:
Prepare a schedule that provides operating cash flows for the year 2012 using the direct method.
Transcribed Image Text:
Oliver Company Income Statement For the Year Ended December 31, 2012 Sales Cost of goods sold Depreciation expense Other expenses 75,000 (20,000] 2,000 13,0 Net income Oliver Company Comparative Balance Sheets At December 31, 2011 and 2012 2011 2012 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Land 5,400 8,000 160,000 (18,000] 20,400 200,400 24,600 64,600 9,200 6,000 175,000 (20,000 47,000 281,800 Total assets Liabilities and equity Accounts payable Mortgage payable Stockholders' equity 8,600 10,000 40,000 231,800 $281.800 191,800 $200,400 Total liabilities and equity
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Related Book For
Cornerstones Of Managerial Accounting
ISBN: 9780538473460
4th Edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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