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Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 147,864
$ 88,572
Accounts receivable
160,674
69,540
Inventory
205,875
188,216
Prepaid expenses
51,972
47,580
Long-term investments
252,540
199,470
Plant assets
521,550
443,775
Accumulated depreciation
(91,500
)
(95,160
)
Total
$1,248,975
$941,993
Liabilities and Stockholders’ Equity
Accounts payable
$ 186,660
$ 123,159
Accrued expenses payable
30,195
38,430
Bonds payable
201,300
267,180
Common stock
402,600
320,250
Retained earnings
428,220
192,974
Total
$1,248,975
$941,993
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$710,882
Less:
Cost of goods sold
$247,892
Operating expenses, excluding depreciation
22,710
Depreciation expense
85,095
Income tax expense
49,922
Interest expense
8,656
Loss on disposal of plant assets
13,725
428,000
Net income
$ 282,882
Additional information:
1.
New plant assets costing $183,000 were purchased for cash
during the year.
2.
Old plant assets having an original cost of $105,225 and
accumulated depreciation of $88,755 were sold for $2,745 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $47,636 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
$
$
$
[removed]
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx

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Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx

  • 1. Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 147,864 $ 88,572 Accounts receivable 160,674 69,540 Inventory 205,875 188,216 Prepaid expenses
  • 2. 51,972 47,580 Long-term investments 252,540 199,470 Plant assets 521,550 443,775 Accumulated depreciation (91,500 ) (95,160 ) Total $1,248,975 $941,993
  • 3. Liabilities and Stockholders’ Equity Accounts payable $ 186,660 $ 123,159 Accrued expenses payable 30,195 38,430 Bonds payable 201,300 267,180 Common stock 402,600
  • 4. 320,250 Retained earnings 428,220 192,974 Total $1,248,975 $941,993 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue $710,882 Less: Cost of goods sold $247,892 Operating expenses, excluding depreciation
  • 5. 22,710 Depreciation expense 85,095 Income tax expense 49,922 Interest expense 8,656 Loss on disposal of plant assets 13,725 428,000 Net income $ 282,882 Additional information: 1. New plant assets costing $183,000 were purchased for cash during the year. 2.
  • 6. Old plant assets having an original cost of $105,225 and accumulated depreciation of $88,755 were sold for $2,745 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $47,636 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 $ $ $ [removed]