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Consolidated Statement of Cash FlowsâDirect Method Required
Consolidated Statement of Cash FlowsâDirect Method Required
Using the data presented in P10-21, prepare a worksheet to develop a consolidated statement of cash flows using the direct method for computing cash flows from operations.
P10-21:
|
WEATHERBEE COMPANY AND SUBSIDIARY Consolidated Balance Sheets |
||
|
January 1, 20X6 |
December 31, 20X6 |
|
|
Cash |
$ 54,000 |
$ 75,000 |
|
Accounts Receivable |
121,000 |
111,000 |
|
Inventory |
230,000 |
360,000 |
|
Land |
95,000 |
100,000 |
|
Buildings & Equipment |
800,000 |
650,000 |
|
Less: Accumulated Depreciation |
(290,000) |
(230,000) |
|
Total Assets |
$1,010,000 |
$1,066,000 |
|
Accounts Payable |
$ 90,000 |
$ 105,000 |
|
Bonds Payable |
300,000 |
250,000 |
|
Noncontrolling Interest |
30,000 |
38,000 |
|
Common Stock |
300,000 |
300,000 |
|
Retained Earnings |
290,000 |
373,000 |
|
Total Liabilities & Ownersâ Equity |
$1,010,000 |
$1,066,000 |
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