Question

The 20X6 balance sheet of Dietrich Resources, Corp., contained the following three assets:


The long-term-debt investments were shown at cost, which equaled maturity value. Interest income was $16,000 for these debt investments, which had been owned for several years. The equity method was used to account for both Modoc Mining and Sutter Gold. Results for 20X6 included the following:


Dietrich Resources received some dividends from affiliates. Estimate the dividend amounts using the pro rata share of net income and the changes in the investment accounts.
A schedule that reconciles net income to net cash provided by operating activities contained the following:
Net income ................. $796,000
Depreciation ............... 130,000
Increase in noncash working capital ....... (15,000)
Given the available data, complete the reconciliation of net income to cash from operations. Given the available data, complete the reconciliation of net income to cash fromoperations.


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  • CreatedFebruary 20, 2015
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