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ThatDudeLv1
25 Jul 2022
***URGENT*** please solve and provide both statements of cash flows for me. Disregard the answers that I have. Please help very urgent
The following changes took place last year in Pavolk Corpary's balance sheet accounts:
D = Decrease I = Increase.
Long-term investment's that cost the company $ 21 were sold during the year for $ 46 and land that cost $ 45 was sold for $24. In addition, the company declared and paid $ 18 in cash dividends during the year. Besides the sole of land, no other sales or retirements of plant and equipment took place during the year. Pavolk did not retire any bonds during the year or issue any new common stock.
The company's income statement for the year follows:
The comparty's beginning cash balance was $ 128 and its ending balance was $ 108.
Required:
1. Use the indirect method to determine the net cash provided by operating activities for the year.
2. Prepare a statement of cash flows for the year
Required 1
Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.)
Pavolik Company
Statement of Cash Flows (partial)
Net income
$ 100
Adjustments to convert net income to a cash basis:
Depression
$ 82
Loss on sale of land
21
Gain on sale of long-term investments
(25)
Increase in accounts receivable
(24)
Decrease in inventory
58
Increase in prepaid expenses
(19)
Increase in accounts payable
62
Decrease in accrued liabilities
(24)
Increase in income taxes payable
131
Net cash provided by operating activities
$ 231
Required 2
Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)
Pavolik Company
Statement of Cash Flows
Operating activities:
Net cash provided by operating activities
$ 231
Investing activities:
Proceeds from sale of long-term investments
Proceeds from sale of land
24
Additions to property, plant & equipment
Net cash used in investing activities
24
Financing activities:
Issuance of bonds payable
Purchase of common stock
Cash dividends
Net cash provided by financing activities
0
Net decrease in cash
255
Beginning cash and cash equivalents
Ending cash and cash equivalents
$ 255
***URGENT*** please solve and provide both statements of cash flows for me. Disregard the answers that I have. Please help very urgent
The following changes took place last year in Pavolk Corpary's balance sheet accounts:
D = Decrease I = Increase.
Long-term investment's that cost the company $ 21 were sold during the year for $ 46 and land that cost $ 45 was sold for $24. In addition, the company declared and paid $ 18 in cash dividends during the year. Besides the sole of land, no other sales or retirements of plant and equipment took place during the year. Pavolk did not retire any bonds during the year or issue any new common stock.
The company's income statement for the year follows:
The comparty's beginning cash balance was $ 128 and its ending balance was $ 108.
Required:
1. Use the indirect method to determine the net cash provided by operating activities for the year.
2. Prepare a statement of cash flows for the year
Required 1
Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.)
Pavolik Company |
Statement of Cash Flows (partial) |
Net income | $ 100 | |
Adjustments to convert net income to a cash basis: | ||
Depression | $ 82 | |
Loss on sale of land | 21 | |
Gain on sale of long-term investments | (25) | |
Increase in accounts receivable | (24) | |
Decrease in inventory | 58 | |
Increase in prepaid expenses | (19) | |
Increase in accounts payable | 62 |
Decrease in accrued liabilities | (24) | |
Increase in income taxes payable | 131 | |
Net cash provided by operating activities | $ 231 |
Required 2
Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)
Pavolik Company |
Statement of Cash Flows |
Operating activities: | ||
Net cash provided by operating activities | $ 231 | |
Investing activities: | ||
Proceeds from sale of long-term investments | ||
Proceeds from sale of land | 24 | |
Additions to property, plant & equipment | ||
Net cash used in investing activities | 24 | |
Financing activities: | ||
Issuance of bonds payable | ||
Purchase of common stock | ||
Cash dividends | ||
Net cash provided by financing activities | 0 | |
Net decrease in cash | 255 | |
Beginning cash and cash equivalents | ||
Ending cash and cash equivalents | $ 255 |
annyong558Lv10
25 Nov 2023
rupakrajput5Lv3
26 Jul 2022
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