Question

Volusia Company reported the following comparative balance sheets for 2011:
Additional information:
1. Net income for 2011 was $18,300.
2. Cash dividends of $13,500 were declared and paid during 2011.
3. Long-term investments with a cost of $21,200 were sold for cash at a loss of $1,500. Additional long-term investments were purchased for $32,900 cash.
4. Equipment with a cost of $25,000 and accumulated depreciation of $16,300 was sold for $4,500 cash. New equipment was purchased for $37,025 cash.
5. Depreciation expense was $24,800.
6. A principal payment of $15,000 was made on long-term notes. Volusia issued notes payable for $20,000 cash.
7. Common stock was sold for $7,900 cash.

Required:
Prepare a statement of cash flows for Volusia, using the indirect method to compute net cash flow from operating activities.


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  • CreatedSeptember 22, 2015
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