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Vlada [557]
2 years ago
6

The following changes took place last year in Pavolik Company’s balance sheet accounts:

Business
1 answer:
irinina [24]2 years ago
4 0

Answer:

1. $260

2. $103

Explanation:

1. Calculation to determine the net cash provided by operating activities for the year

PAVOLIK COMPANY

STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD)

FOR THE YEAR ENDED

Particulars Amount

Cash flow from operating activities

Net Income $100

Adjustments to reconcile net income to net cash provided by operating activities

Adjustment for non cash effects

Depreciation $82

Loss on sale of land $21

Gain on sale of investments -$25

Change in operating assets & liabilities

Increase in accounts receivable -$24

Decrease in inventory $58

Increase in prepaid expenses -$19

Increase in accounts payable $62

Decrease in accrued liabilities -$24

Increase in income taxes payable $29

Net cash flow from operating activities (a) $260

Therefore Using the indirect method the net cash provided by operating activities for the year is $260

2. Preparation of a statement of cash flows for the year

PAVOLIK COMPANY

STATEMENT OF CASH FLOWS (USING INDIRECT METHOD)

FOR THE YEAR ENDED

Particulars Amount

$

Cash flow from operating activities (a) $260

Cash Flow from Investing activities

Property,plant and equipment purchased -$395

Long term investment sold $46

Land sold $24

Net cash Flow from Investing activities (b) -$325

(-$395+$46+$24)

Cash Flow from Financing activities

Cash dividends paid -$18

Common stock purchased -$96

Bonds issued $204

Net cash Flow from Financing activities (c) $90

(+$204-$18-$96)

Net Change in cash c=a+b+c -$25

Beginning cash balance $128

Closing cash balance $103

($128-$25)

Therefore the statement of cash flows for the year is $103

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As per the given figure, after calculating the accumulated amount, the figure that has been arrived is $1,232.

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Accumulated value or accumulated amount, both are synonyms. It is used to refer to the cash value. Basically, this means there is an easy way of calculating the accumulated value.

All one has to do is to find the total or the sum of the initial investment and, in that addition, the interest which has been earned till date will be added. Formula for calculating the simple interest is

Accumulated amount =Principal amount (1+rate * time)

Here Principal amount = $800,    rate= 0.06,   time=9 months

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