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I need help with A and B Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries inc, for December 31,20Y and 20Y1,
I need help with A and B
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries inc, for December 31,20Y and 20Y1, is as follows: The foliowing additional infocmation is taken from the recorids: 1. Land was sold for $120. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $62 credit to fetained Earnings for net income. 6. There was a $24 debit to Retained Earnings for cash dividends dedared, a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from operating activitiea, Use the minus sign to indicate cash out flews, cash payments, decreases in cash, or any aegative adjustments. F Chack My wor Calculate the increases and decreases in the current asset/liability accounts over the period. What affect do these increases/decreases have on cash? What items might have had an affect on net income but have no cash impact? What items are considered noncurrent assets? b. Was Oison-jones industries inc."s net cash fow from operatiens more or less than net income Step by Step Solution
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