Information needed to prepare the Cash Flow from Operating Activities section of Par Corporation's consolidated statement of
Question:
Information needed to prepare the Cash Flow from Operating Activities section of Par Corporation's consolidated statement of cash flows is included in the following list:
Amortization of patents ........................................... $ 32,000
Consolidated net income .......................................... 300,000
Decrease in accounts payable ....................................... 40,000
Depreciation expense .............................................. 240,000
Increase in accounts receivable ................................... 210,000
Increase in inventories .............................................. 90,000
Loss on sale of land ................................................ 200,000
Noncontrolling interest share ..................................... 100,000
Noncontrolling interest dividends ................................. 48,000
Undistributed income of equity investees ........................ 10,000
REQUIRED
Prepare the Cash Flows from Operating Activities section of Par's consolidated statement of cash flows under the indirect method.
Accounts PayableAccounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Step by Step Answer:
Advanced Accounting
ISBN: 978-0133451863
12th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith