Question

Required information [The following information applies to the questions displayed below.) Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 8 $ 12 229 194 6 441 429 (70) 359 423 28 34 933 $834 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 $ 224 ONNI co 64 367 170 537 201 165 124 289 $ 933 96 297 $834

Answer 1

Answer-1)-

WEAVER COMPANY
STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD)
FOR THE YEAR ENDED DECEMBER 31
Particulars		Amount
		$
Cash flow from operating activities
Net Income		64
Adjustments to reconcile net income to net cash provided by operating activities
Adjustment for non cash effects
Depreciation		25
Gain on sale of investments		-7
Loss on sale of equipment		2
Change in operating assets & liabilities
Increase in accounts receivable		-78
Decrease in inventory		36
Increase in prepaid expenses		-3
Increase in accounts payable		78
Decrease in accrued liabilities		-8
Increase in income taxes payable		9
Net cash flow from operating activities (a)		118

2)-

WEAVER COMPANY
STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD)
FOR THE YEAR ENDED DECEMBER 31
Particulars		Amount
		$
Cash flow from operating activities		118

Cash Flow from Investing activities
Long term investment sold		13
Old equipment sold		18
New equipment purchased		-109
Net cash Flow from Investing activities (b)		-78
Cash Flow from Financing activities
Cash dividends paid	($96+$64-$124)	-36
Bonds issued		28
Common stock repurchased		-36
Net cash Flow from Financing activities (c)		-44
Net Change in cash c=a+b+c		-4
Beginning cash balance		12
Closing cash balance		8