Condensed financial data of Oakley Company appear below.
Oakley Company
Comparative Balance Sheets
December 31
Comparative Balance Sheets
December 31
Oakley Company
Income Statement
For the Year Ended December 31, 2019
Income Statement
For the Year Ended December 31, 2019
Additional information:
- Equipment costing $97,000 was purchased for cash during the year.
- Investments were sold at cost.
- Equipment costing $47,000 was sold for $15,550, resulting in gain of $8,750.
- A cash dividend of $83,400 was declared and paid during the year.
Instructions
Prepare a worksheet for the statement of cash flows using in the indirect method. Enter the reconciling items directly in the worksheet columns, using letters to cross-reference each entry
Solution
Oakley Company
Worksheet
Statement of Cash Flows For the Year Ended December 31, 2019
Worksheet
Statement of Cash Flows For the Year Ended December 31, 2019
