18 Aug Question: 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 …
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 there were no other cash flows from operations, using the direct method of computing cash flows from operating activities, compute the following:
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.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.