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Home/ Questions/Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31...
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tmntuto
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tmntuto
Asked: April 10, 20222022-04-10T08:46:22+00:00 2022-04-10T08:46:22+00:00In: Accounting

Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31…

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Additional information:
1. New plant assets costing $140,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $80,500 and accumulated depreciation of $67,900 were sold for $2,100 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $36,442 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  Adjustments to reconcile net income to.

♦ Relevant knowledge
Cash flow in a business is a reference to the sums of money that a company has and invests at a particular date. It is a way of balancing the balance prior to and after the money, or cash, enters and out of the business. Cash flow is the earnings earned, typically from sales, as well as the expense that is paid out for example, the payroll.
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    tonytutoria
    2022-04-10T08:46:24+00:00Added an answer on April 10, 2022 at 8:46 am
    Statement of Cash Flows
    For the Year Ended December 31, 2014
    Cash Flows From Operating Activities
    Net income 216412
    Adjustments to reconcile net earnings
    Operating activities generate net cash
    Depreciation expense 65100
    Loss from the disposal of plant assets 10500
    Accumulations increase -69720
    Stock increase -13510
    Prepaid expenses increase -3360
    Accounts payable increase 48580
    Reduced accrued expenses payable -6300
    31290
    Operating activities generate net cash 247702
    Cash Flows From Investing Activities
    Purchase of Investments -40600
    Purchase of Plant Assets -140000
    Plant assets for sale 2100
    Net cash used for investing activities -178500
    Cash Flows From Financing Activities
    Dividends in cash -36442
    Redemption of bonds possible -50400
    Common Stock Issuance 63000
    Financing activities use net cash -23842
    Increase in cash net 45360
    Cash at the Beginning of Period 67760
    Cash at the End of the Period 113120
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