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Please help fill empty boxes using info from the top two pictures. Thanks in advance. Statement of Cash Flows-Indirect Method The comparative balance sheet of
Please help fill empty boxes using info from the top two pictures. Thanks in advance.
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31,20Y2 and 20Y1, is as follows: 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 $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. decreases in cash, or any negative adjustments. Chapter 13 Homework Olson-Jones Industries, Inc. Statement of Cash Flows For the Year Ended December 31, 20 Y2 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Gain on sale of land Increase in accounts receivable Increase in inventories Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) investing activities: 26 Cash received from sale of land Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31, 20Y2Step by Step Solution
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