During 2014, Weaver sold some equipment for $19 that had cost $30 and on which t

Question

     During 2014, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. A cash dividend was paid during 2014 and the company repurchased $37 of its own stock. Weaver did not retire any bonds during 2014.

rev: 09_17_2014_QC_54316

4.

value:
10.00 points

Required information

Using the indirect method, determine the net cash for operating activities for 2014. (Negative amount should be entered with a minus sign.)

Explanation / Answer

Net cash from operating activities net income for the year 70 Adjustments to reconcile net income Depreciation expense 25 Gain on sale of investments -6 loss on sale of Equipment 1 increase in accounts receivable -77 decrease in inventory 35 increase in prepaid expense -2 increase in accounts payable 76 decrease in accrued liabilities -7 increase in income taxes payable 9 Net cash from operating activities 124 answer

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