ADVANCED FINANCIAL ACCOUNTING IA
ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 10, Problem 10.1E
To determine

Consolidated statement of cash flow:consolidated entities, as with individual companies, must present a statement of cash flow when they issue a complete set of financial statements. A consolidated statement of cash flows is similar to a statement of cash flows prepared for an individual corporate entity and is prepared in same manner. Consolidated statement of cash flow is prepared after consolidated financial statement. Consolidated cash flow statement is prepared from the information in the three consolidated statements. When an indirect approach is used, consolidated net income must be adjusted for all items that affect consolidated net income and the cash of consolidated entity effectively.

consolidated cash balance for January 1, 20X2.

b.

To determine

Consolidated statement of cash flow: consolidated entities, as with individual companies, must present a statement of cash flow when they issue a complete set of financial statements. A consolidated statement of cash flows is similar to a statement of cash flows prepared for an individual corporate entity and is prepared in same manner. Consolidated statement of cash flow is prepared after consolidated financial statement. Consolidated cash flow statement is prepared from the information in the three consolidated statements. When an indirect approach is used, consolidated net income must be adjusted for all items that affect consolidated net income and the cash of consolidated entity effectively.

The amount of reported dividends paid in cash flow from financing activity.

c.

To determine

Consolidated statement of cash flow: consolidated entities, as with individual companies, must present a statement of cash flow when they issue a complete set of financial statements. A consolidated statement of cash flows is similar to a statement of cash flows prepared for an individual corporate entity and is prepared in same manner. Consolidated statement of cash flow is prepared after consolidated financial statement. Consolidated cash flow statement is prepared from the information in the three consolidated statements. When an indirect approach is used, consolidated net income must be adjusted for all items that affect consolidated net income and the cash of consolidated entity effectively.

The amount of net income reported if other adjustments to reconcile consolidated net income and cash provided by operations increases over net income.

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Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows:   Dec. 31, 20Y9 Dec. 31, 20Y8 Accounts payable   $57,920     $53,810   Dividends payable   20,000     16,000   Bonds payable   290,000     450,000   Common stock, $10 par value   180,000     120,000   Paid-in capital in excess of par—common stock   328,000     232,000   Retained earnings   488,000     375,000   During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.     Cosmat Inc.Statement of Cash Flows (partial) Cash flows from (used for)…
Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:  Retained earnings balance at the beginning of the year $ 328,000 Cash dividends declared for the year 73,750 Proceeds from the sale of equipment 126,800 Gain on the sale of equipment 7,350 Cash dividends payable at the beginning of the year 32,450 Cash dividends payable at the end of the year 39,500 Net income for the year 162,250  The amount of cash paid for dividends was:
Ariel Corporation reports the following year-end balance sheet data. The company's working capital equals: Cash Accounts receivable $ Current 54,000 liabilities Long-term liabilities Inventory 74,000 Common stock 114,000 Retained earnings Total assets Equipment 159,000 $218,000 $197,000 $356,000 $108,000 $89,000 69,000 $ 89,000 $ 356,000 and equity 49,000 104,000 Total liabilities $ 356,000

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ADVANCED FINANCIAL ACCOUNTING IA

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