View the step-by-step solution to:



I need help preparing the below statement of cash flows for 2016 using the indirect



·      The cash equivalents are term deposits that mature on average in sixty days. The bank overdrafts are temporary revolving lines of credit and typically reverse within a few days. Jordyn Inc. has elected to include both of these in cash and cash equivalents.

·      There were no disposals of buildings in 2016.

·      Amortization of patents is included in other operating expenses.

·      Equipment with an original cost of $46,000 and a carrying value of $28,000 was sold during the year.

·      During the year, Jordyn Inc. acquired land with a fair value of $200,000 in exchange for some preferred shares.

·      There were no purchases or sales of long-term investments during 2016.

·      During the year, the company initiated an executive stock option plan. The entire contributed surplus balance relates to that plan.

·      No bonds were issued or redeemed in 2016.

·      Jordyn Inc. follows the usual Canadian practice with respect to its classification of interest and dividends received and interest and dividends paid.




Top Answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.


Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online