Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. e11-17 statement of cash flows -indirect method ob

E11-17 Statement of cash flows -indirect method Obj 2,3,4,5 The comparative balance shect of Olson-fones...

50.1K

Verified Solution

Question

Accounting

image
E11-17 Statement of cash flows -indirect method Obj 2,3,4,5 The comparative balance shect of Olson-fones Industries Inc, for December 31, 20Y2 and Net cash flows 20Y1, is as follows: from operating activities, 538 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 equipenent during the year. d. The comnon stock was issucd for cash. e. There was a 962 increase to Retained Earnings for net incone. f. There was a 524 decrease to Hetained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows frum (used for) operating activities: b. Was Olson-Jones's net cash flows from operating activities more or less than net income? What is the source of this difference

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students