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help me please Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 28 294
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Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 28 294 152 8 482 509 (83) 426 26 $ 934 $ 13 231 196 5 445 431 (70) 361 32 $838 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 300 71 74 445 198 643 165 126 292 $ 934 $225 80 65 370 171 541 201 96 297 $838 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating itens Gain on sale of investments $ 7 LOSS on sale of equipment (2) Income before taxes Income taxes Net incone $753 449 904 220 84 5 89 23 During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $6 when purchased several years ago Weaver paid a cash dividend this year and the company repurchased $36 of its own stock. This year Weaver did not retire any bonds Required: 1. Using the Indirect method, determine the net cash provided by used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) $ 66 Weaver Company Statement of Cash Flows-Indirect Method (partial) Net income Adjustments to convert net income to a cash basis: Depreciation $ 23 Gain on sale of investments 7 Loss on sale of equipment 2. Increase in accounts receivable 75 Decrease in inventory Increase in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable 107 173 Net cash provided by operating activities $ 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 $ 0 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Net cash used in operating activities Investing activities: Depreciation increase in accounts receivable Additions to property, plant, and equipment Decrease in accrued liabilities Net cash provided by investing activities Financing activities 0 Beginning cash and cash equivalents Ending cash and cash equivalents Step by Step Solution
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