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Bingel [31]
3 years ago
7

Pecan Corporation’s controller has just finished preparing a consolidated balance sheet, income statement, and statement of chan

ges 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.
Sandy reported net income of $70,000 for 20X4.
Pecan paid dividends of $25,000 in 20X4.
Sandy paid dividends of $15,000 in 20X4.
Pecan issued common stock on April 7, 20X4, for a total of $150,000.
Consolidated wages payable increased by $7,000 in 20X4.
Consolidated depreciation expense for the year was $21,000.
Consolidated accounts receivable decreased by $32,000 in 20X4.
Bonds payable of Pecan with a book value of $204,000 were retired for $200,000 on December 31, 20X4.
Consolidated amortization expense on patents was $13,000 for 20X4.
Pecan sold land that it had purchased for $142,000 to a nonaffiliate for $134,000 on June 10, 20X4.
Consolidated accounts payable decreased by $12,000 during 20X4.
Total purchases of equipment by Pecan and Sandy during 20X4 were $295,000.
Consolidated inventory increased by $16,000 during 20X4.
There were no intercompany transfers between Pecan and Sandy in 20X4 or prior years except for Sandy’s payment of dividends. Pecan uses the indirect method in preparing its cash flow statement.
Pecan uses the indirect method in preparing its cash flow statement.
Required:
A. What amount of dividends was paid to the noncontrolling interest during 20X4?
B. What amount will be reported as net cash provided by operating activities for 20X4?
C. What amount will be reported as net cash used in investing activities for 20X4?
D. What amount will be reported as net cash used in financing activities for 20X4?
E. What was the change in cash balance for the consolidated entity for 20X4?
Business
1 answer:
-Dominant- [34]3 years ago
5 0
E what was the change in cash balance for the consolidated entity for 20x4
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The Blanket Company (TBC)

Income Statement

Sales revenue                   $1,804,000

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$6,225.08

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At a small company, one person prepares the paychecks for employees and another person reviews the check amounts and signs the checks. this is an example of creating checks and balances approach to combatting destructive leadership.

<h3>What is company?</h3>

The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill. With the assistance of management, the organization was flawlessly run. Employees are compensated by the company.

According to the small company, one authorisation figure checks the other's work being done, and thus maintains balance. The destructive leadership is checked and balanced.

As a result, the is an example of creating checks and balances approach to combatting destructive leadership.

Learn more about on company, here;

brainly.com/question/29354835

#SPJ1

Your question is incomplete, but most probably the full question was.

a- emphasizing low power distance

b- empowering employees

c- creating checks and balances

d- establishing norms and values

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