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Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns. OPRAH COMPANY AP13-12A
Prepare a worksheet for the statement of cash flows using the indirect method.
Enter the reconciling items directly in the worksheet columns.
OPRAH COMPANY AP13-12A Statement of Cash Flows Condensed financial data of Oprah Company appear below. For the Year Ended December 31,2011 OPRAH COMPANY Comparative Balance Sheets December 31 See "BS Inc Info" tab nment XXc Balance Reconciling Items Balance AssetsS 12/31/ ance Sheet Accounts it it Accounts receivable Inventories Investments Plant assets Accounts receivable Inventories Investment Plant assets Accumulated depreciation $93,169 90,942 122,175 $47,074 57,155 102,937 86,822 205,500 250,000 49.146 $591,490 250,000 $459,324 0 iabilities and Stockholders Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings ' Equit 57,434 $ 48,637 18,782 99,970 245,500 176,446 Accounts pavable 200,800 121,465 $459,324 ccrued expenses pavable $591,490 onds pavable Common stock Retained eamings OPRAH COMPANY Income Statement For the Year Ended December 31. 2011 $297,772 8,350 306,122 Gain on sale of plant assets Operating activities Net income Depreciation expense Increase in accounts payable Increase in accounts receivable Increase in inventories Gain on sale ofplant assets Decrease in accrued expenses payable Cost of goods sold Operating expenses (excl. deprec. expense) Depreciation expense Income taxes Interest expense Net income $99,561 14,707 194 7,385 2532 174,379 5131.743 Investing activities Sale ofplant assets Sale of investments Purchase ofplant assets Additional information: 1. New plant assets costing $91,470 were purchased for cash during the year. 2. Investments were sold at cost 3. Plant assets costing $46,970 were sold for $15,183, resulting in gain of $ 9,425 4. A cash dividend of $76,762 was declared and paid during the year. Financing activities Sale of common stock Issuance of bonds Payment ofdividends 0 Increase in cash Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns. 0Step by Step Solution
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