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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 In its consolidated cash flow statement for the year ended December 31, 20X2, Durango Corporation reported operating cash inflows of $284,000, financing cash outflows of $230,000, investing cash $80,000, and an ending cash balance of $57,000. Durango purchased 70 percent of Steam Company's common stock on March 12, 20X1, at book value. Steam reported net income of $30,000, paid. $10,000 in 20X2, and is included in Durango's consolidated statements. Durango paid dividends of $45,000 in 20x2. The indirect method is used in computing cash flow from operations. Required: a. b. C. What was the consolidated cash balance at January 1, 20X2? Note: Use cell A2 from the given information to complete this question. Balance at December 31, 20X2 Decrease in cash balance during 20X2: Cash flows from operations Cash outflows for investment activities Cash outflow for financing activities Net cash outflow Cash balance at January 1, 20X2 57000 Dividends paid to plant shareholders Dividends paid to noncontrolling interest of Steam Company Total cash payments 284000 -80000 -230000 What amount was reported as dividends paid in the cash flow from financing activities section of the statement of cash flows? Note: Use cell A2 from the given information to complete this question. If the other adjustments to reconcile consolidated net income and cash provided by operations resulted in a $77,000 increase over net income, what amount was reported as consolidated net income for 20X2? Note: Use cell A2 from the given information to complete this question.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 In its consolidated cash flow statement for the year ended December 31, 20X2, Durango Corporation reported operating cash inflows of $284,000, financing cash outflows of $230,000, investing cash $80,000, and an ending cash balance of $57,000. Durango purchased 70 percent of Steam Company's common stock on March 12, 20X1, at book value. Steam reported net income of $30,000, paid. $10,000 in 20X2, and is included in Durango's consolidated statements. Durango paid dividends of $45,000 in 20x2. The indirect method is used in computing cash flow from operations. Required: a. b. C. What was the consolidated cash balance at January 1, 20X2? Note: Use cell A2 from the given information to complete this question. Balance at December 31, 20X2 Decrease in cash balance during 20X2: Cash flows from operations Cash outflows for investment activities Cash outflow for financing activities Net cash outflow Cash balance at January 1, 20X2 57000 Dividends paid to plant shareholders Dividends paid to noncontrolling interest of Steam Company Total cash payments 284000 -80000 -230000 What amount was reported as dividends paid in the cash flow from financing activities section of the statement of cash flows? Note: Use cell A2 from the given information to complete this question. If the other adjustments to reconcile consolidated net income and cash provided by operations resulted in a $77,000 increase over net income, what amount was reported as consolidated net income for 20X2? Note: Use cell A2 from the given information to complete this question.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 27BE
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 A Required: a. b. C. B What was the consolidated cash balance at January 1, 20X2? Note: Use cell A2 from the given information to complete this question. Balance at December 31, 20X2 Decrease in cash balance during 20X2: Cash flows from operations Cash outflows for investment activities In its consolidated cash flow statement for the year ended December 31, 20X2, Durango Corporation reported operating cash inflows of $284,000, financing cash outflows of $230,000, investing cash outflows of $80,000, and an ending cash balance of $57,000. Durango purchased 70 percent of Steam Company's common stock on March 12, 20X1, at book value. Steam reported net income of $30,000, paid dividends of $10,000 in 20X2, and is included in Durango's consolidated statements. Durango paid dividends of $45,000 in 20X2. The indirect method is used in computing cash flow from operations. Cash outflow for financing activities Net cash outflow Cash balance at January 1, 20X2 Dividends paid to plant shareholders Dividends paid to noncontrolling interest of Steam Company Total cash payments 57000 D 284000 -80000 -230000 What amount was reported as dividends paid in the cash flow from financing activities section of the statement of cash flows? Note: Use cell A2 from the given information to complete this question. Cash flow from operations Adjustments to reconcile consolidated net income and cash provided by operations Consolidated net income E F G If the other adjustments to reconcile consolidated net income and cash provided by operations resulted in a $77,000 increase over net income, what amount was reported as consolidated net income for 20X2? Note: Use cell A2 from the given information to complete this question. H
Transcribed Image Text:1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 A Required: a. b. C. B What was the consolidated cash balance at January 1, 20X2? Note: Use cell A2 from the given information to complete this question. Balance at December 31, 20X2 Decrease in cash balance during 20X2: Cash flows from operations Cash outflows for investment activities In its consolidated cash flow statement for the year ended December 31, 20X2, Durango Corporation reported operating cash inflows of $284,000, financing cash outflows of $230,000, investing cash outflows of $80,000, and an ending cash balance of $57,000. Durango purchased 70 percent of Steam Company's common stock on March 12, 20X1, at book value. Steam reported net income of $30,000, paid dividends of $10,000 in 20X2, and is included in Durango's consolidated statements. Durango paid dividends of $45,000 in 20X2. The indirect method is used in computing cash flow from operations. Cash outflow for financing activities Net cash outflow Cash balance at January 1, 20X2 Dividends paid to plant shareholders Dividends paid to noncontrolling interest of Steam Company Total cash payments 57000 D 284000 -80000 -230000 What amount was reported as dividends paid in the cash flow from financing activities section of the statement of cash flows? Note: Use cell A2 from the given information to complete this question. Cash flow from operations Adjustments to reconcile consolidated net income and cash provided by operations Consolidated net income E F G If the other adjustments to reconcile consolidated net income and cash provided by operations resulted in a $77,000 increase over net income, what amount was reported as consolidated net income for 20X2? Note: Use cell A2 from the given information to complete this question. H
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