16 ) please answer. I will give a good feedback Exercise 15-4 (Algo)...

90.2K

Verified Solution

Question

Accounting

16 ) please answer. I will give a good feedback

imageimageimage

Exercise 15-4 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2] The following changes took place last year in Pavolik Company's balance sheet accounts: D= Decrease; = Increase. Long-term Investments that cost the company $27 were sold during the year for $58 and land that cost $57 was sold for $30. In addition, the company declared and pald $24 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or Issue any new common stock. The company's income statement for the year follows: The company's beginning cash balance was $140 and its ending balance was $114. Required: 1. Use the Indirect method to determine the net cash provided by operating actlvitles for the year. 2. Prepare a statement of cash flows for the year. Complete this question by entering your answers in the tabs below. 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.) Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students