am. 115. Consolidated Cash from OperationsConsider the following data reported in the accounts of a parent company and its 80-percent-owned subsidiary:Net incomeDepreciation expenseAmortization expenseParent$1,000,000 (1) $240,000Subsidiary175,00038.00050,000Dividends paid in cash250,00075,000Income from equity method investmentsCash dividends received from equity investments60.00035,000Items appearing in eliminating entries:Revaluation write-offs:Depreciation expense.Amortization expense$3,00015,00040,000Goodwill impairment loss(1) Parent's separate income only; does not include equity in net income of subsidiary.Requireda. Calculate consolidated net income.$b. Prepare the cash from operating activities section of the consolidated statement of cash flows, starting with consolidated net income, using the indirect method. Assume no adjustment is required for changes in consolidated current asset and current liabilityaccounts.Use a negative sign with answers to indicate a decrease/reduction cash.Consolidated Statement of Cash FlowsCash from operating activities sectionConsolidated net incomeConsolidated depreciation expenseConsolidated amortization expenseGoodwill impairment lossCash from operating activities=$

Net income:The net income refers to the amount that is determined after taking care of all the…

Answered: Consider the following data reported in…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 10E

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III. The following changes in the statement of financial position accounts of BC were gathered for preparation of Statement on Cash Flow: Cash Short-term investment Accounts receivable Inventory Noncurrent investment Equipment Accumulated depreciation - increase Accounts payable Dividends payable Short-term notes, non-trade Long-term debts Ordinary share, P10 par Share premium (APIC) Accumulated profits Increase (Decrease) 270,000 200,000 (20,000) 100,000 (100,000) 700,000 50,000 (5,000) 160,000 300,000 130,000 150,000 75,000 290,000 The following additional information relates to the same year: a. Net income was P1,090,000. b. Cash dividend declared was P800,000. c. Equipment costing P600,000 and having carrying cost of P350,000 was sold for P350,000. Required: Determine the following: 1. Total net cash flow 2. Net cash flow from operating 3. Net cash flow from investing 4. Net cash flow from financing
cash flow statment Assets Long term investments long-term assets Brand name & Goodwell The comparative statements of financial position of Lopez Inc. at the beginning and the end of the year 2022 appear as follows. Inventory Accounts receivable Cash Total J Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Income Tax payable Total Ć Lopez Inc. Statements of Financial Position Dec.31, 2022 $ 56,000 115,000 50,000 100,000 65,000 12,000 $398,000 $250,000 61,000 53,000 34,000 $398,000 Jan. 1, 2022 $ 40,000 150,000 43,000 60,000 40,000 43,000 $376,000 $ 200,000 91,000 75,000 10,000 $376,000 Additional information Net income $90,000 Deprecation on long term assets $25,000 dividends of $15,000 were paid in 2022 a long-term asset with a net book value of $10,000 were sold at a gain of $17,000 Instructions From the information given above, prepare a Cash Flow Statement for Lopez Inc. for the period ending 31st Dec., 2022 (Using indirect method). Show very clearly…
Consolidated Cash from Operations Consider the following data reported in the accounts of a parent company and its 80-percent-owned subsidiary. Net income Depreciation expense Amortization expense Dividends paid in cash Income from equity method investments Cash dividends received from equity investments items appearing in eliminating entries: Revaluation write-offs: Depreciation expense. Amortization expense $3,000 15,000 40,000 Parent Subsidiary $1,000,000 (1) $240.000 175,000 38.000 50,000 250,000 75.000 60,000 35,000 Goodwill impairment loss (1) Parent's separate income only; does not include equity in net income of subsidiary. Required a. Calculate consolidated net income. b. Prepare the cash from operating activities section of the consolidated statement of cash flows, starting with consolidated net income, using the indirect method. Assume no adjustment is required for changes in consolidated current asset and current liability accounts. Use a negative sign with answers to…
Fiscal Year Ended Make-ThemCorporation Consolidated Balance Sheet (in thousands except share data) Current assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt ASSETS Total current liabilities Long-term debt $ LIABILITIES AND SHAREHOLDERS' EQUITY Total liabilities Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Dec. 31, 2008 $ S $ 369 58 489 107 43 1,066 5,137 1,168 7,371 429 104 132 89 754 2,630 3,384 **** 2,415 1,222 3,987 7,371 $ $ S Dec. 31, 2007 Assume the following information for both years: Net Profit…
STATEMENT OF CASH FLOWS An entity provided the following increases (decreases) in the statement of financial position accounts. Cash and cash equivalents 120,000 Available for sale securities 300,000 Accounts receivable, net - Inventory 80,000 Long-term investments (100,000) Plant assets 700,000 Accumulated depreciation - Accounts payable ( 5,000) Dividend payable 160,000 Short-term bank debt 325,000 Long-term debt 110,000 Share capital, P10 par 100,000 Share premium 120,000 Retained earnings 290,000 Net income for the current year was P790,000. Cash dividend of P500,000 was declared. Building costing P600,000 and with carrying amount of P350,000 was sold for P350,000. Equipment costing P110,000 was acquired through issuance of long-term debt. A long-term investment was sold for P135,000. There were no…
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2821 $ 75 115 200 $390 ROA ROE $580 110 $470 50 $520 $910 Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: 96 96 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 $ 65 110 198 $365 DuPont Analysis times times $471 100 $371 LAK OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020…
SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $ 536,600 Investments 65,900 Plant and equipment. $615,000 Less: Accumulated depreciation 271,000 Net plant and equipment 344,000 Total assets $ 946,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities $ 181,000 Long-term liabilities: Bonds payable 153,200 Total liabilities $ 334,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders' equity $ 612,300 Total liabilities and stockholders' equity $ 946,500…
Cash Accounts receivable Inventory Plant and equipment, net Investment in Brier Company Land (undeveloped) Total assets Liabilities and shareholders' equity Accounts payable. Long-term debt Shareholders' equity Total liabilities and shareholders' equity Sales Operating expenses Operating income Interest and taxes: Interest expense Tax expense Net income BRIDGER INC. Income-Statement Margin Tumover ROI $ 90,000 85,000 15.00 % 1.05 15.75% $2,090,000 1,776,500 313,500 175,000 $ 138,500 4 $ 150,000 $ 145,000 500,000 360,000 510,000 590,000 840,000 865,000 450,000 420,000 270,000 270,000 $2,720,000 $2,650,000 The company paid dividends of $85,000 last year. The "Investment in Brier Company" on the balance sheet represents an investment in the common shares of another company. $ 340,000 1,000,000 1,380,000 $2,720,000 $2,650,000 Required: 1. Compute the company's margin, turnover, and ROI for last year. (Do not round intermediate calculations. Round your answer to 2 decimal place.) $ 380,000…
Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…
The following data are taken from the records of Grouper Company. Cash Current assets other than cash Long-term debt investments Plant assets Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings Additional information: 1. 2. 3. 4. 5. December 31, December 31, 2025 2024 $15,100 84,300 10,000 334,300 $443,700 $20,100 39,900 74,800 255,400 53,500 $443,700 $8,000 60,600 52,500 214,900 $336,000 $40,400 21,800 -0- 255,400 18,400 $336,000 Held-to-maturity debt securities carried at a cost of $42,500 on December 31, 2024, were sold in 2025 for $34,300. The loss (not unusual) was incorrectly charged directly to Retained Earnings. Plant assets that cost $50,300 and were 80% depreciated were sold during 2025 for $8,000. The loss was incorrectly charged directly to Retained Earnings. Net income as reported on the income statement for the year was $57,100. Dividends paid amounted to $11,740. Depreciation charged for the year was $19,940.
Prepare the Cash Flow Statement for the year ended 31 December 2022 using info below The information given below was extracted from the accounting records of Excellence Limited Information from the Statement of Financial Position as at 2022 R 2021 R Ordinary share capital 750 000 580 000 Retained earnings 145 000 60 000 Property, plant and equipment (see note) 475 000 410 000 Investments 248 000 220 000 12.5% Debentures 125 000 120 000 Inventory 320 000 260 000 Trade debtors 57 000 67 500 Bank ? Prepaid expenses 15 500 2 500 Trade creditors 60 000 85 000 Bank overdraft 50 000 South African Revenue Services 25 000 40 000 Extract from the Statement of Comprehensive Income for the year ended 31 December 2022 Profit before interest and tax 342 000 Depreciation on equipment 25 000 Dividends received on investment 30 000 Interest on debentures 22 500…
Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Line Item Description Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,500 $12,500 Inventory 51,650 44,200 Accounts payable 8,480 5,100 Dividends payable 9,480 6,100 Adjust net income of $75,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.

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