Net cash flows from financing activities were a. $(25,000). b. $(37,000). c. $(38,000). d. $(42,000). Comparative consolidated

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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:

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

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
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...
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Advanced Accounting

ISBN: 978-0077431808

10th edition

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

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