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 $24 were sold during the year for $52 and land that cost $51 was sold for $27. In addition, the company declared and paid $21 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 $134 and its ending balance was $111. 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. Answer is not complete. Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) 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.)
Other questions asked by students
explain in an paragraph what is microfinance and how it is different from regular finance ,...
the position magnification and natur A motor car is fitted with a rear view mirror...
5 Assume that 1 000 is deposited in the bank and that each bank loans...
A cell culture contains 12 thousand cells, and is growing at a rate of r(t)...
On January 1,2020 H.E. Pennypacker Corp. purchased 20,000 shares of Putumayo for ...
Using the provided income statement and balance sheet calculate each of the above ratios. ...