Comparative financial statements for Wenver Company follow Weaver Company Comper

Question

Comparative financial statements for Wenver Company follow Weaver Company Comperatve Balance Sheet December 31 2014 and 2013 $ 5 5 12 308 230 159 195 Cesh Accounts recevable Prepand expenses Total current assess Property, piant, and equpment 471442 510431 185 70) 425 361 Less accumulated depreclation Net property, pliant, and equipment Long-term inwestments Total assets S 922$ 835 abiitios and Stockholders' Equry S302 $ 226 Accruea habliites 6 income saxes payable Total current iebnitles 447 370 Bonds payable Total habiies Commoin stock 643 540 G202 Retained eamings Total stockhoides oquity Total tiablities and stockholders équty 279295 $ 922 $ 835 Weaver Compeny Income Statement For the Yeer Ended December 3f, 2014 $ 752 Cost of goods sola Gross margin Solling and administrative expenses Net operating Income Gain on sale of Loss on salo of equpment 2) 4 02

Explanation / Answer

Cash flow indirect method Cash flow from operating activities Net income 66 Adjustments to reconcile the net income Loss on sale of equipment 2 Depreciation expense 25 Gain on sale of investment -6 Changes in current asset and liabilities Increase in accounts receivable -78 decrease in Inventory 36 Increase in prepaid expense -4 Increase in accounts payable 76 Decrease in accrued liabilities -7 Increase in income tax payable 8 52 Cash flow from operating activities 118 Cash flow from Investing activities Equipment purchased -109 Equipment sold 18 Long term investment sold 12 Cash flow from Investing activities -79 Cash flow from Financing activities Paid in capital in excess Common stock -41 Dividend -41 Bonds payable 26 Cash flow from Financing activities -56 Net Cash and cash equivalent -17 Add Beginning cash and cash equivalent 12 Ending cash and cash equivalent -5

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.