Question
Delphenia Co. reported data for years A and B on their financial statements. In each case below, provide the required (direct method) information. a. Cash
Delphenia Co. reported data for years A and B on their financial statements. In each case below, provide the required (direct method) information.
a. Cash received from customers in year B?
Year B A
Accts. Rec. 500k 560k
Unearned Revenue 200k 210k
Sales Revenue 1 Million 900k
b. Cash paid to suppliers for Inventory purchases?
Year B A
CGS 950k 850k
Accts. Pay. 600k 550k
Inv. 200k 225k
c. Cash paid for interest?
Year B A
Int. Exp. 2k 1875
Disc. On Bonds Pay. 575 600
Prem. On B.P. 180 200
Interest Pay. 210 200
d. How much cash was received on sale of Equip.?
Year B A
Equip. 875k 850k
Acc. Depr. 240k 225k
Depr. Exp. 65k 60k
Also: Equip. was purchased for 100k. Gain on sale of Equip. was 5k.
e. How much in cash dividends was paid by S Co. to noncontrolling shareholders?
Year B A
MI/NCI S 5336 5020
MI in S Net Income 1550 2025
Dividends Payable (S) 1337 670
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