Homework Answers
| Cash Flow statement | |||||||
| cash flow from operating activities | |||||||
| consolidated net income | 280040 | ||||||
| depreciation | 191400 | ||||||
| add:amortization expenses | 8960 | ||||||
| add:dcrease in accounts receivable (495500-369500-130300) | 4300 | ||||||
| less: increase in inventory (734900-423700-208400) | -102800 | ||||||
| less: decrease in accounts payable (109400-81800-35900) | -8300 | 93560 | |||||
| net cash flow from operating activities | 373600 | ||||||
| cash flow from investing activities | |||||||
| cash paid for acquisition of stucco (940000-61500) | -878500 | ||||||
| net cash flow from investing activities | -878500 | ||||||
| cash flow from financing activities | |||||||
| issuance of debt | 841380 | ||||||
| dividend paid 124000+(42400*20%) | -132480 | ||||||
| net cash flow from financing activities | 708900 | ||||||
| net increase in cash | 204000 | ||||||
| add: cash balance 31/12/2017 | 43900 | ||||||
| cash balance on 31/12/2018 | 247900 | ||||||
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On June 30, 2018, Plaster, Inc., paid $940,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed t...
On June 30, 2018, Plaster, Inc., paid $844,000 for 80 percent of Stucco Company's outstanding stock....
On June 30, 2018, Plaster, Inc., paid $844,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $211,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 55,300 117,100 187,200 60,000 161,500 276,800 (32,300) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: Equipment...
On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock....
On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $217,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash $ 56,800 Accounts receivable 120,400 Inventory 192,600 Land 61,800 Buildings 166,300 Equipment 284,900 Accounts payable (33,200 ) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:...
On June 30, 2018, Plaster, Inc., paid $908,000 for 80 percent of Stucco Company's outstanding stock....
On June 30, 2018, Plaster, Inc., paid $908,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $227,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash $ 59,300 Accounts receivable 125,900 Inventory 201,600 Land 64,800 Buildings 174,300 Equipment 298,400 Accounts payable (34,700 ) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:...
On June 30, 2018, Plaster, Inc., paid $804,000 for 80 percent of Stucco Company's outstanding stock....
On June 30, 2018, Plaster, Inc., paid $804,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $201,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash $ 52,800 Accounts receivable 111,600 Inventory 178,200 Land 57,000 Buildings 153,500 Equipment 263,300 Accounts payable (30,800 ) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:...
On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock....
On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $217,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 56, 800 120, 400 192, 600 61, 800 166, 300 284, 900 (33,200) On June 30, Plaster allocated the excess acquisition-date fair value over book value...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: $ 2017 (860,000) 602,000 92,000 0 32,000 (134,000) 11,000 (123,000) S Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 30 percent of...
Bolero Company holds 80 percent of the common stock of Rivera,
Inc., and 30 percent of this subsidiary’s convertible bonds. The
following consolidated financial statements are for 2017 and
2018:
2017
2018
Revenues
$
(920,000
)
$
(1,050,000
)
Cost of goods sold
614,000
654,000
Depreciation and amortization
104,000
128,000
Gain on sale of building
0
(34,000
)
Interest expense
44,000
44,000
Consolidated net income
(158,000
)
(258,000
)
to noncontrolling interest
23,000
25,000
to parent company
$
(135,000
)...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total assets Accounts payable Bonds payable Noncontrolling...
Bolero Company holds 70 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's convertible b...
Bolero Company holds 70 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: $ 2017 (905,000) 611,000 101,000 0 Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's con...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018 2017 (850,000 600,000 90,000 Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total assets Accounts...
On June 30, 2018, Plaster, Inc., paid $844,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $211,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 55,300 117,100 187,200 60,000 161,500 276,800 (32,300) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: Equipment...
On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $217,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 56, 800 120, 400 192, 600 61, 800 166, 300 284, 900 (33,200) On June 30, Plaster allocated the excess acquisition-date fair value over book value...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: $ 2017 (860,000) 602,000 92,000 0 32,000 (134,000) 11,000 (123,000) S Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings...
Bolero Company holds 80 percent of the common stock of Rivera,
Inc., and 30 percent of this subsidiary’s convertible bonds. The
following consolidated financial statements are for 2017 and
2018:
2017
2018
Revenues
$
(920,000
)
$
(1,050,000
)
Cost of goods sold
614,000
654,000
Depreciation and amortization
104,000
128,000
Gain on sale of building
0
(34,000
)
Interest expense
44,000
44,000
Consolidated net income
(158,000
)
(258,000
)
to noncontrolling interest
23,000
25,000
to parent company
$
(135,000
)...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total assets Accounts payable Bonds payable Noncontrolling...
Bolero Company holds 70 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018: $ 2017 (905,000) 611,000 101,000 0 Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total...
Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 30 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2017 and 2018 2017 (850,000 600,000 90,000 Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense Consolidated net income to noncontrolling interest to parent company Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash Accounts receivable Inventory Buildings and equipment (net) Databases Total assets Accounts...
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