Chapter 13 Statement of Cash Flows 667 ash flow perating ties, $38 EX 13-17 Statement of cash flows--indirect method Obj. 2, 3, 4,5 The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec 31, 2012 Dec 31, 2011 OIL TEMPLATE 330 205 85 Cash.. $183 $ 14 Accounts receivable (net). 55 Inventories... 117 Land 250 Equipment.... 175 168 Accumulated depreciation equipment. Total assets. $742 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors).... $ 51 5 Dividends payable.... .... Common stock, 51 par.. 125 Paid-in capital in excess of par--common stock .. Retained earnings... 476 Total liabilities and stockholders' equity............. $742 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was acquired for cash c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a 562 credit to Retained Earnings for net income. t. There was a $24 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. b. Was Olson-Jones's net cash flow from operations more or less than net income? Wha is the source of this difference? EX 13-18 Statement of cash flows-indirect method Obj. 2, 3, 4 List the errors you find in the following statement of cash flows. The cash balance at the beginning the year was $240,000. All other amounts are correct, except the cash balance at the end of the yea Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from used for operating activities: Not income Chapter 13 Statement of Cash Pows 567 How ting EX 13-17 Statement of cash flows-Indirect method Obj. 2, 3, 4,5 The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 20Y1 is as follows: Dec 31, 2012 Dec 31, 2011 538 $183 TEMPLATE Accounts receivable (net). Inventories on 2:50 205 Equipment Accumulated depreciation equipment Total assets.. $742 Liabilities and Stockholders' Equity Accounts payable merchandise creditors) ...... S51 Dividends payable....... . Common stock, 51 par.. . 125 Pald-in capital in excess of par common stock .. Retained earnings Total liabilities and stockholders' equity 5742 The following additional information is taken from the records: and was sold for 5120 Equipment was acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash There was a 562 credit to Retained Earnings for net income There was a $24 debit to Retained Eamings for cash dividends declared. 2. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities 1. Was Olson-Jones's net cash flow from operations more or less than net income? Wha is the source of this difference? EX 13-18 Statement of cash flows-indirect method Obj. 2, 3, 4 hhhhh
