Here is some of the problem :
(1) New plant assets costing $137,000 were purchased for cash during the year 

(2) Old plant assets having an original cost of $78,775 and accumulated depreciation of $66,445 were sold for $2,055 cash.

 (3) Bonds payable matured and were paid off at face value for cash. (4) A new dividend of $35,661 was declared and paid during the year.
Future analysis reveals that accounts payable pertain to merchandise creditors.

Prepare a statement of cash flows for odgers inc. using the direct method.

Transcribed Image Text:

Condonsed finandal data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 $110,696 2013 Cash $66,308 Accounts receivable 120,200 52,060 Inventory 154,125 8,908 189,060 390,450 (68,500) 5935,025 140,905 35,620 Prepaid exponses Long-term investments Plant assets Accumulated depreciation 149.330 332.225 (71.240) 3705,204 Total Liabilities and Stockholders Equity Accounts payabite Accrued expenses payable Bonds pavable Common stock Retained eamings $139,740 22,605 150,700 $92.201 28,770 200,020 239,750 144,467 301,400 320.580 Condonsed finandal data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 $110,696 2013 Cash $66,308 Accounts receivable 120,200 52,060 Inventory 154,125 8,908 189,060 390,450 (68,500) 5935,025 140,905 35,620 Prepaid exponses Long-term investments Plant assets Accumulated depreciation 149.330 332.225 (71.240) 3705,204 Total Liabilities and Stockholders Equity Accounts payabite Accrued expenses payable Bonds pavable Common stock Retained eamings $139,740 22,605 150,700 $92.201 28,770 200,020 239,750 144,467 301,400 320.580

Answer rating: 100% (QA)

Required solution Novak Corp Statement of Cash Flows For the year ended 2017 Cash Flow from Operatin... View the full answer