Joyner Company’s income statement for Year 2 follows: Its balance sheet amounts at the end of Years 1 and 2 are as follo
Posted: Sun Jul 03, 2022 4:14 pm
Joyner Company’s income statement for Year 2 follows:
Its balance sheet amounts at the end of Years 1 and 2 are asfollows:
Equipment that had cost $31,700 and on which there wasaccumulated depreciation of $11,500 was sold during Year 2 for$28,200. The company declared and paid a cash dividend during Year2. It did not retire any bonds or repurchase any of its ownstock.
Required:
1. Using the indirect method, compute the net cash providedby/used in operating activities for Year 2.
2. Prepare a statement of cash flows for Year 2.
3. Compute the free cash flow for Year 2.
Its balance sheet amounts at the end of Years 1 and 2 are asfollows:
Equipment that had cost $31,700 and on which there wasaccumulated depreciation of $11,500 was sold during Year 2 for$28,200. The company declared and paid a cash dividend during Year2. It did not retire any bonds or repurchase any of its ownstock.
Required:
1. Using the indirect method, compute the net cash providedby/used in operating activities for Year 2.
2. Prepare a statement of cash flows for Year 2.
3. Compute the free cash flow for Year 2.