Power Corporation owns 75 percent of Surge Company’s stock; no intercompany purchases or sales were made...
Power Corporation owns 75 percent of Surge Company’s stock; no
intercompany purchases or sales were made in 20X4. For the year,
Power and Surge reported sales of $340,000 and $240,000 and cost of
goods sold of $150,000 and $114,000, respectively. Power’s
inventory increased by $30,000, but Surge’s decreased by $14,000.
Power’s accounts receivable increased by $20,000 and its accounts
payable decreased by $16,000 during 20X4. Surge’s accounts
receivable decreased by $10,000 and its accounts payable increased
by $8,000.
a.) cash recieved from customers
b.) cash payments to suppliers
c.) cash flows from operating activities
Homework Answers
|
Cash received from customers 340,000+240,000-20,000+10,000 |
570,000 |
|
Cash payment to suppliers 150,000+114,000+30,000-14,000+16,000-8,000 |
288,000 |
| Cadh flows from operating activities (570,000-288,000) | 282,000 |
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Power Corporation owns 75 percent of Surge Company’s stock; no
intercompany purchases or sales were made...
Power Corporation owns 75 percent of Surge Company’s stock; no intercompany purchases or sales were made...
Power Corporation owns 75 percent of Surge Company’s stock; no intercompany purchases or sales were made in 20X4. For the year, Power and Surge reported sales of $360,000 and $200,000 and cost of goods sold of $150,000 and $95,000, respectively. Power’s inventory increased by $33,000, but Surge’s decreased by $15,000. Power’s accounts receivable increased by $19,000 and its accounts payable decreased by $19,000 during 20X4. Surge’s accounts receivable decreased by $14,000 and its accounts payable increased by $5,000. Required: Assuming...
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