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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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Explanation:

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3 years ago
According to the principles of supply and demand, why is it that as the price of a product increases, the amount supplied will a
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According to the principles of supply and demand,  the price of a product increases, the amount supplied will also increase because there is positive relationship between price and quantity supplied.

<h3>Why when price increases supply also increases?</h3>

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6 0
2 years ago
An unstable government is one that __________.
taurus [48]

Answer:

C

Explanation:

An unstable government is one that changes hand frequently.

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5 0
3 years ago
Read 2 more answers
Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,100 with his state income tax r
Ivan

Answer:

The amount of taxes that Tim can deduct as an itemized deduction is $7,340

Explanation:

The computation of the itemized deduction is shown below:

= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax

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8 0
2 years ago
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