Question:
The chief accountant for Grandview Corporation provides you with the company’s 2013 statement of
cash flows and income statement. The accountant has asked for your help with some missing figures in
the company’s comparative balance sheets. These financial statements are shown next ($ in millions).
, Required:
1. Calculate the missing amounts.
2. Prepare the operating activities section of Grandview’s 2013 statement of cash flows using the indirect
method.
Answer:
Requirement 1
2012 Cash:
2012 Cash + Net increase in cash = 2013 Cash
2012 Cash + $86 = $145
2012 Cash = $59
2013 A/R:
The chief accountant for Grandview Corporation provides you with the company’s 2013 statement of
cash flows and income statement. The accountant has asked for your help with some missing figures in
the company’s comparative balance sheets. These financial statements are shown next ($ in millions).
, Required:
1. Calculate the missing amounts.
2. Prepare the operating activities section of Grandview’s 2013 statement of cash flows using the indirect
method.
Answer:
Requirement 1
2012 Cash:
2012 Cash + Net increase in cash = 2013 Cash
2012 Cash + $86 = $145
2012 Cash = $59
2013 A/R:
