What happens to the non controlling interest dividends of $24,000 in preparing of consolidated cash flows...
What happens to the non controlling interest dividends of $24,000 in preparing of consolidated cash flows from operating activities ?
| Consolidated net income | 100,000 | |
| Increase in account receivable | (105,000) | |
| Increase in inventories | (45,000) | |
| Depreciation expense | 120,000 | |
| Decrease in accounts payable | (20,000) | |
| Loss on sale of land | 100,000 | |
| Amortization of patents | 16,000 | |
| Undistributed income of equity investees | (5,000) | |
| Noncontrolling interest share | 50,000 | |
| Noncontrolling interest dividends | ? | |
| Net cash provided by Operating activities | ||
Homework Answers
Non controlling interest dividends of $24,000:-
Non controlling interest dividends of $24,000 will be shown as cash outflow from operating activities.
Add Answer to:
What happens to the non controlling interest dividends of
$24,000 in preparing of consolidated cash flows...
Pecan Corporation’s controller has just finished preparing a consolidated balance sheet, income statement, and statement of...
Pecan Corporation’s controller has just finished preparing a consolidated balance sheet, income statement, and statement of changes in retained earnings for the year ended December 31, 20X4. Pecan owns 60 percent of Sandy Corporation’s stock, which it acquired at underlying book value on May 7, 20X1. At that date, the fair value of the noncontrolling interest was equal to 40 percent of Sandy Corporation’s book value. You have been provided the following information: Consolidated net income for 20X4 was $271,000....
Preparing a consolidated income statement—Cost method with noncontrolling interest, AAP and upstream and downstream intercompany inventory...
Preparing a consolidated income statement—Cost method
with noncontrolling interest, AAP and upstream and downstream
intercompany inventory profits
A parent company purchased a 70% controlling interest in its
subsidiary several years ago. The aggregate fair value of the
controlling and noncontrolling interest was $300,000 in excess of
the subsidiary’s Stockholders’ Equity on the acquisition date. This
excess was assigned to a building that was estimated to be
undervalued by $180,000 and to an unrecorded Trademark valued at
$120,000. The building asset...
The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance sheet, income statement,...
The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance sheet, income statement, and statement of changes in retained earnings for 20X3. The accountant has asked for assistance in preparing a statement of cash flows for the consolidated entity. Consolidated Enterprises holds 80 percent of the stock of Separate Way Manufacturing. The following items are proposed for inclusion in the consolidated cash flow statement: Decrease in accounts receivable $ 23,000 Increase in accounts payable 5,000 Increase in...
Preparing a consolidated income statement-Cost method with noncontrolling interest, AAP and upstream and downstream intercompany inventory...
Preparing a consolidated income statement-Cost method with noncontrolling interest, AAP and upstream and downstream intercompany inventory profits A parent company purchased a 70% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $300,000 in excess of the subsidiary's Stockholders' Equity on the acquisition date. This excess was assigned to a building that was estimated to be undervalued by $180,000 and to an unrecorded Trademark valued at $120,000. The building asset...
In preparing a company's statement of cash flows for the most recent year using the indirect...
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 39 Net income for the year was Accounts payable increased by Accounts receivable decreased by 29,000 Inventories decreased by Cash dividends paid were $54,000 20,000 0.3R 09 7,000 16,000 Depreciation expense was 24,000 Net cash provided by operating activities was: Multiple Cholce $134,000, O $120,000, O $75,000. O $74,000. O $28,000.
Consolidated Statement of Cash Flows Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc....
Consolidated Statement of Cash Flows Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc. since Mountain Lodging's inception. The condensed consolidated balance sheets of Sunny Valley Resort at December 31, 2012 and 2011 and other relevant information are presented below: SUNNY VALLEY RESORT AND SUBSIDIARY Condensed Consolidated Balance Sheets December 31 (in thousands) 2012 2011 Assets Cash $960,000 $1,120,000 Other current assets 2,240,000 1,600,000 Plant assets 6,400,000 6,720,000 Accumulated depreciation (2,400,000) (2,560,000) Goodwill 480,000 528,000 Total assets $7,680,000...
Consolidated Statement of Cash Flows Puesto Products purchased 80 percent of the outstanding common shares of...
Consolidated Statement of Cash Flows Puesto Products purchased 80 percent of the outstanding common shares of Schicken Foods on January 1, 20x1. The balance sheets for both companies as of December 31, 20x0 (i.e., immediately prior to the acquisition) are displayed in Exhibit 1. Details of the acquisition are as follows: • • Puesto paid $40,000 in cash plus common stock valued at $120,000 to the selling shareholders of Schicken. The fair value of the non-controlling interest is estimated to...
EXERCISE 5-5 T-Account Calculation of Controlling and Noncontrolling Interest in Consolidated Net Income LO 4 On...
EXERCISE 5-5 T-Account Calculation of Controlling and Noncontrolling Interest in Consolidated Net Income LO 4 On January 1, 2019, P Company purchased an 80% interest in S Company for $600,000, at which time S Company had retained earnings of $300,000 and capital stock of $350,000. Any difference between book value and the value implied by the purchase price was entirely attributable to a patent with a remaining useful life of 10 years. Assume that P and S Companies reported net...
Calculate controlling interest share and noncontrolling interest share of consolidated net income Pet Company owns 90 p...
Calculate controlling interest share and noncontrolling interest share of consolidated net income Pet Company owns 90 percent of the stock of Man Corporation and 70 percent of the stock of Nun Company. Man owns 70 percent of the stock of Oak Corporation and 10 percent of the stock of Nun Company. Nun Company owns 20 percent of the stock of Oak Corporation Separate incomes for the year ended December 31, 2016, are as follows: $130,000 $ 36,000 $ 56,000 18,000...
Provided are the consolidated trial balances of a parent and its less-than-wholly-owned subsidiary. Account Dr (Cr)...
Provided are the consolidated trial balances of a parent and its less-than-wholly-owned subsidiary. Account Dr (Cr) Current assets $ 4,000 Property, net 95,000 Intangible assets, net 15,000 Goodwill 100,000 Liabilities (180,140) Capital stock (10,000) Retained earnings, beginning (16,000) Accumulated other comprehensive income, beginning (500) Noncontrolling interest (2,000) Dividends 500 Sales revenue (390,000) Cost of sales and operating expenses 385,000 Other comprehensive income (1,000) Noncontrolling interest in net income 150 Noncontrolling interest in other comprehensive loss (10) Total $ 0 The...
Preparing a consolidated income statement—Cost method
with noncontrolling interest, AAP and upstream and downstream
intercompany inventory profits
A parent company purchased a 70% controlling interest in its
subsidiary several years ago. The aggregate fair value of the
controlling and noncontrolling interest was $300,000 in excess of
the subsidiary’s Stockholders’ Equity on the acquisition date. This
excess was assigned to a building that was estimated to be
undervalued by $180,000 and to an unrecorded Trademark valued at
$120,000. The building asset...
Preparing a consolidated income statement-Cost method with noncontrolling interest, AAP and upstream and downstream intercompany inventory profits A parent company purchased a 70% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $300,000 in excess of the subsidiary's Stockholders' Equity on the acquisition date. This excess was assigned to a building that was estimated to be undervalued by $180,000 and to an unrecorded Trademark valued at $120,000. The building asset...
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 39 Net income for the year was Accounts payable increased by Accounts receivable decreased by 29,000 Inventories decreased by Cash dividends paid were $54,000 20,000 0.3R 09 7,000 16,000 Depreciation expense was 24,000 Net cash provided by operating activities was: Multiple Cholce $134,000, O $120,000, O $75,000. O $74,000. O $28,000.
Consolidated Statement of Cash Flows Puesto Products purchased 80 percent of the outstanding common shares of Schicken Foods on January 1, 20x1. The balance sheets for both companies as of December 31, 20x0 (i.e., immediately prior to the acquisition) are displayed in Exhibit 1. Details of the acquisition are as follows: • • Puesto paid $40,000 in cash plus common stock valued at $120,000 to the selling shareholders of Schicken. The fair value of the non-controlling interest is estimated to...
EXERCISE 5-5 T-Account Calculation of Controlling and Noncontrolling Interest in Consolidated Net Income LO 4 On January 1, 2019, P Company purchased an 80% interest in S Company for $600,000, at which time S Company had retained earnings of $300,000 and capital stock of $350,000. Any difference between book value and the value implied by the purchase price was entirely attributable to a patent with a remaining useful life of 10 years. Assume that P and S Companies reported net...
Calculate controlling interest share and noncontrolling interest share of consolidated net income Pet Company owns 90 percent of the stock of Man Corporation and 70 percent of the stock of Nun Company. Man owns 70 percent of the stock of Oak Corporation and 10 percent of the stock of Nun Company. Nun Company owns 20 percent of the stock of Oak Corporation Separate incomes for the year ended December 31, 2016, are as follows: $130,000 $ 36,000 $ 56,000 18,000...
Most questions answered within 3 hours.
-
Need to do in Python? Can do in Javascript but not in Python
Write a function...
asked 2 minutes ago -
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 1 hour ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 3 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 4 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 5 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 6 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 8 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 7 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 8 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 8 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 8 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 8 hours ago