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.
)
\
table
[
[
Weaver Company
]
,
[
Statement of Cash Flows
]
,
[
For This Year Ended December
3
1
]
,
[
Operating activities:
]
,
[
Net cash provided by operating activities
]
,
[
Investing activities:
]
,
[
,
]
,
[
,
]
,
[
,
]
,
[
,
]
,
[
,
0
]
,
[
Financing activities:
]
,
[
Î
ssuance of bonds payable
]
,
[
,
]
,
[
,
]
,
[
?
,
]
,
[
,
0
]
,
[
,
0
]
,
[
Beginning cash and cash equivalents
]
,
[
Ending cash and cash equivalents,$
]
]
Required information
Problem
1
5
-
7

(
Algo
)
Prepare a Statement of Cash Flows
[
LO
1
5
-
1
,
LO
1
5
-
2
]
[
The following information applies to the questions displayed below.
]
Comparative financial statements for Weaver Company follow:
During this year, Weaver sold some equipment for $
1
8
that had cost $
3
0
and on which there was accumulated
depreciation of $
1
0
.
In addition, the company sold long
-
term investments for $
1
3
that had cost $
6
when purchased several
years ago. Weaver paid a cash dividend this year and the company repurchased $
3
9
of its own stock. This year Weaver
did not retire any bonds.
Problem
1
5
-
7
Part
1

(
Algo
)
Required:
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.
)
Required information Problem
1
5
-
7
Part
1

(
Algo
)
Required:
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.
)
Answer is complete but not entirely correct.
\
table
[
[
Weaver Company
]
,
[
Statement of Cash Flows
-
Indirect Method
(
partial
)
]
,
[
Net income,,,$
,
6
6
<
]
,
[
Adjustments to convert net income to a cash basis:
]
,
[
Gain on sale of investments,
<
,
(
7
)
,
,
]
,
[
Loss on sale of equipment,,
2
0
,
,
]
,
[
Decrease in accrued liabilities,,
(
9
)
,
,
]
,
[
Increase in accounts receivable,,
1
0
3
\
times
,
,
]
,
[
Increase in accounts payable,,
7
5
,
,
]
,
[
Increase in prepaid expenses,,
3
\
times
,
,
]
,
[
Increase in accounts payable,x
,
7
5
\
times
,
,
]
,
[
Decrease in accrued liabilities,x
,
(
9
)
\
times
,
,
]
,
[
Increase in income taxes payable,,
1
3
6
\
times
,
,
]
,
[
,
,
,
3
6
9
]
,
[
Net cash provided by operating activities,
(
,
,
$
,
4
3
5
]
]
Problem
1
5
-
7

(
Algo
)
Prepare a Statement of Cash Flows
[
LO
1
5
-
1
,
LO
1
5
-
2
]
[
The following information applies to the questions displayed below.
]
Comparative financial statements for Weaver Company follow:
During this year, Weaver sold some equipment for $
1
8
that had cost $
3
0
and on which there was accumulated
depreciation of $
1
0
.
In addition, the company sold long
-
term investments for $
1
3
that had cost $
6
when purchased several
years ago. Weaver paid a cash dividend this year and the company repurchased $
3
9
of its own stock. This year Weaver
did not retire any bonds.
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