Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem
Condensed financial data of Odgers Inc. follow.
ODGERS INC. Comparative Balance Sheets December 31
Assets
2014
2013
Cash
$ 128,472
$ 76,956
Accounts receivable
139,602
60,420
Inventory
178,875
163,532
Prepaid expenses
45,156
41,340
Long-term investments
219,420
173,310
Plant assets
453,150
385,575
Accumulated depreciation
(79,500
(82,680 )
Total
$1,085,175
$818,453
Liabilities and Stockholders' Equity
Accounts payable
$ 162,180
$ 107,007
Accrued expenses payable
26,235
33,390
Bonds payable
174,900
232,140
Common stock
349,800
278,250
Retained earnings
372,060
167,666
ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue
$617,651
Less:
Cost of goods sold
$215,381
Operating expenses, excluding depreciation
19,732
Depreciation expense
73,935
Income taxes
43,375
Interest expense
7,521
Loss on disposal of plant assets
11,925
371,869
Net income
$ 245,782
Additional information:
1. New plant assets costing $159,000 were purchased for cash during the year.
2 Old plant assets having an original cost of $91,425 and accumulated depreciation of $77,115 were sold for $2,385 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $41,388 was declared and paid during the year.
Further analysis reveals that accounts payable pertain to merchandise creditors.
Prepare a statement of cash flows for Odgers Inc. using the direct method.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd