Hills Inc. acquired subsidiary X for 550 ($,000) in 20X2 and also bought Property, plant and equipment for 350($,000). Note: Figures are in ($,000) Additional Notes; 1.It was found out that Hills proceeds from sale of equipment was 20,000 and they also received a dividend of 200,000 and Interest of 200,000. 2.Hill Inc paid lease liabilities of 90,000 3.Had proceeds from Long-term borrowings of 250,000. 4. In May of 20x2 they paid dividend of 1200 Required: Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method.
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Hills Inc. acquired subsidiary X for 550 ($,000) in 20X2 and also bought Property, plant and equipment for 350($,000).
Note: Figures are in ($,000)
Additional Notes;
1.It was found out that Hills proceeds from sale of equipment was 20,000 and they also received a dividend of 200,000 and Interest of 200,000.
2.Hill Inc paid lease liabilities of 90,000
3.Had proceeds from Long-term borrowings of 250,000.
4. In May of 20x2 they paid dividend of 1200
Required:
- Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method.
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