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!
Condensed financial data of Odgers Inc. follow.
ODGERS INC. Comparative Balance Sheets December 31
Assets
2014
2013
Cash
$ 151,096
$ 90,508
Accounts receivable
164,186
71,060
Inventory
210,375
192,330
Prepaid expenses
53,108
48,620
Long-term investments
258,060
203,830
Plant assets
532,950
453,475
Accumulated depreciation
(93,500
)
(97,240
Total
$1,276,275
$962,583
Liabilities and Stockholders' Equity
Accounts payable
$ 190,740
$ 125,851
Accrued expenses payable
30,855
39,270
Bonds payable
205,700
273,020
Common stock
411,400
327,250
Retained earnings
437,580
197,192
ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue
$726,420
Less:
Cost of goods sold
$253,310
Operating expenses, excluding depreciation
23,207
Depreciation expense
86,955
Income tax expense
51,014
Interest expense
8,845
Loss on disposal of plant assets
14,025
437,356
Net income
$ 289,064
Additional information:
1. New plant assets costing $187,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $107,525 and accumulated depreciation of $90,695 were sold for $2,805 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $48,676 was declared and paid during the year.
Required:
Make a Statement of Cash Flows For the Year Ended December 31, 2014
How should Jason Long plan to search for these loss contingencies?
Rosa owns 30% of Pine Corporation's stock (basis of $50,000), and the other 70% was recently purchased by Arvid (basis of $620,000). Pine enters into a reorganization with Lodgepole Corporation.
friedman company had bonds outstanding with a maturity value of 431000. on april 30 2011 when these bonds had an
In the middle of the year, the price of Lake Corporation's major raw material increased by 8%. How would this increase affect the company's break-even point and margin of safety?
this problem comes from managerial accounting a focus on ethical decision making 5th edition jackson sawyer and
air france-klm af a french company prepares its financial statements according to international financial reporting
olivares enterprises makes rainberry shampoo for professional hair stylists. on july 31 2015 5200 liters of shampoo
the following information is available regarding the total manufacturing overhead of bursa mfg. co. for a recent
homeguard insurance company takes ten days to make payments oninsurance claims. claims are processed through
kilmer corporation began the year with retained earnings of 310000. during the year the company issued 420000 of common
production and cost data for the month of february for process a of the packer manufacturing company follownbspunits in
At the time of issuance, the market interest rate for similar financial instruments is 10%. Which of the following is a correct piece of the journal entry on September 1, 2010?
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