[The following information applies to the questions displayed below.] During 201

Question

[The following information applies to the questions displayed below.]

     During 2015, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $6 when purchased several years ago. A cash dividend was paid during 2015 and the company repurchased $40 of its own stock. Weaver did not retire any bonds during 2015.

2.

value:
3.00 points

Required information

Using the indirect method, determine the net cash provided by/used by operating activities for 2015. (Negative amount should be entered with a minus sign.)

Comparative financial statements for Weaver Company follow:

Explanation / Answer

for the year ended 12/31/15

Cash flows from operating activities

Net income

$64

Adjustments for:

Depreciation

24

Increase in Accounts receivable

-77

Decrease in inventories

36

Increase in prepaid exepnses

-4

Increase in Accounts APyable

78

Decerase in accrued liabilities

-8

Increase in Income taxes payables

10

Gain on sale of investments

6

Loss on sale of equipments

-2

$63

Net Cash from Operating Activities

$127

Weaver company Statement of Cash Flows

for the year ended 12/31/15

Cash flows from operating activities

Net income

$64

Adjustments for:

Depreciation

24

Increase in Accounts receivable

-77

Decrease in inventories

36

Increase in prepaid exepnses

-4

Increase in Accounts APyable

78

Decerase in accrued liabilities

-8

Increase in Income taxes payables

10

Gain on sale of investments

6

Loss on sale of equipments

-2

$63

Net Cash from Operating Activities

$127

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