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Category > Accounting Posted 04 May 2017 My Price 7.00

Preparation of Statement of Cash Flows

Preparation of Statement of Cash Flows

The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance sheet, income statement, and statement of changes in retained earnings for 20X3. The accountant has asked for assistance in preparing a statement of cash flows for the consolidated entity. Consolidated Enterprises holds 80 percent of the stock of Separate Way Manufacturing. The following items are proposed for inclusion in the consolidated cash flow

statement:

Decrease in accounts receivable

$ 23,000

Increase in accounts payable

5,000

Increase in inventory

15,000

Increase in bonds payable

120,000

Equipment purchased

380,000

Common stock repurchased

35,000

Depreciation reported for current period

73,000

Gain recorded on sale of equipment

8,000

Book value of equipment sold

37,000

Goodwill impairment loss

3,000

Sales

900,000

Cost of goods sold

368,000

Dividends paid by parent

60,000

Dividends paid by subsidiary

30,000

Consolidated net income for the year

464,000

Income assigned to the noncontrolling interest

14,000

Required

Prepare in good form a statement of cash flows for Consolidated Enterprises Inc. using the indirect method of computing cash flows from operations.

Nov 28 2014 08:02 PM

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 04 May 2017 04:05 PM My Price 7.00

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Attachments

file 1493914329-Answer.docx preview (235 words )
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