The accountant for Pil Corporation collected the following information that he thought might be useful in the

Question:

The accountant for Pil Corporation collected the following information that he thought might be useful in the preparation of the company’s consolidated statement of cash flows (in thousands):

Cash paid for purchase of equipment $ 270

Cash paid for other expenses 450

Cash paid to suppliers 630

Cash received from customers 1,600

Cash received from sale of land 500

Cash received from treasury stock sold 400

Dividends from equity investees 40

Dividends paid to noncontrolling stockholders 20

Dividends paid to Pil’s stockholders 50

Gain on sale of land 200

Income from equity investees 80

Interest received from short-term loan 5

Noncontrolling interest share 45

REQUIRED: Prepare the Cash Flows from Operating Activities section of the consolidated statement of cash flows for Pil Corporation and Subsidiaries using the direct method of presentation.


Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Advanced Accounting

ISBN: 9780132568968

11th Edition

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

Question Posted: