Net cash flows from financing activities were a. $(25,000). b. $(37,000). c. $(38,000). d. $(42,000). Comparative consolidated
Question:
Net cash flows from financing activities were
a. $(25,000).
b. $(37,000).
c. $(38,000).
d. $(42,000).
Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent–owned subsidiary Oakley Co. follow:
Additional Information for Fiscal Year 2011
• Iverson and Oakley’s consolidated net income was $45,000.
• Oakley paid $5,000 in dividends during the year. Iverson paid $12,000 in dividends.
• Oakley sold $11,000 worth of merchandise to Iverson during the year.
• There were no purchases or sales of long-term assets during the year.
In the 2011 consolidated statement of cash flows for Iverson Company:
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
2011 2010 $ 7,000 55,000 85,000 95,000 85,000 $327,000 $ 20,000 38,000 45,000 105,000 100,000 $308,000 Cash ... Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable ... Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) $ 75,000 $ 63,000 25,000 35,000 200,000 (15,000) $308,000 -0- 39,000 200,000 13,000 Totals $327,000 2...
Step by Step Answer:
c Cash flow from financing activities Dividends to parents ...View the full answer
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Related Video
This video is about ways to attempt consolidated balance sheet questions. since the unconsolidated financial statements of parent and subsidiary companies are prepared separately, consolidating the balance sheets of both companies is critical and sometimes becomes complex. the tutorial will guide students on to how questions on attempting questions on consolidated financial statements in an easier yet more effective way.
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