Hello,

I am wondering how (and if) the subsidiary dividend payment should be included in the worksheet or cash flow statement. The subsidiary's income is included in the consolidated income statement, and its other activities are included in the balance sheet.

ACT506_CTAssignment_Mod03_Option02-4 [Read-Only] [Shared] - Excel Julie McDermott X File Home Insert Page Layout Formulas Data Review View Developer Help ?Tell me what you want to do Share U18 X fx A B C D E F G H K M N O P Q R S U V W 3 Push Corporation and Subsidaries 4 Consolidated Statement of Cash Flows For the Year Ended December 31, 20x7 6 (Indirect Method) Cash flows from Operating Activities 10 Consolidated Net Income Noncash expenses, revenues, losses and gains included in income: Depreciation 13 Gain on sale of Land 14 Changes in operating Assets and Liabilities Increase in Acct Recievable Increase in Inventory increase in accts payable Net Cash provided by Operating Activities Cash flows from Investing Activities Acquistion of Equipment Sale of Land 25 Net Cash used in Investing Activities 26 27 28 Cash Flows from Financing Activities 29 Dividends Paid 30 To Parent Shareholder 32 Net Cash used in Financing Activities 33 34 Net Increase in Cash 35 Cash at the beginning of the Year 36 37 Cash at the end of the Year 38 O X Module 3 CT Op... X I ACT506_CTAssig... w] Module 3 CT: O... Homework Help... P 3 Chap 5 [Protecte... Untitled - Paint 7:16 PM 3/3/2019ACT506_CTAssignment_Mod03_Option02-4 [Read-Only] [Shared] - Excel Julie McDermott - X File Home Insert Page Layout Formulas Data Review View Developer Help ?Tell me what you want to do Share 025 X fx A B DE O G H K M N O P R S U V W X Z AA AB 2 Critical Thinking Assignment Option #2 4 Push Corporation and Subsidiaries 5 Consolidated Statement of Cash Flows 6 For the Year Ended December 31, 20x7 7 (Indirect Method) 8 Additional Information 9 Information for Cash Flow Statement Completion 10 A. Push Corporation has 100% control of Summer Corp on 01/02/20x7 11 Push Consolidated Income Statement Push Corporation has $300,000 Consolidated Income for 20x7 12 12/31/20x7 12/31/20x7 C. Push Corporation pays a $100,000 Dividend to stockholders 13 Summer Corp reports income of $100,000 and pays Dividend of $50,000 in 20x7 14 Rever 950,000 E. Push Corp sells land that it purchased in 20X1 for $50,000 to nonaffiliated for $100,000 15 Gain on Sale of Land 50,000 Summer Corp purchases additional equipment for 200,000 at end of 20x7 Cost of Goods Sold 500,000 Depreciation Expense 100,000 Other Expenses 100,000 Total Expenses 700,000 Consolidated Income 300,000 24 Push Corporation Balance Sheet 25 Dates 12/31/20x6 12/31/20x7 Cash 150,000 250,000 100,000 Acct F 200,000 250,000 -50,000 Inventories 150,000 175,000 -25,000 Land 100,000 50,000 50,000 Sold for 100,000 Reduction in Asset Buildings and Equipment 500,000 700,000 -200,000 Good will 100,000 100,000 0 Total Debits 1,200,000 1,525,000 -325,000 34 35 Account Depreciation 200,000 300,000 100,000 36 Accts Payable 50,000 75,000 25,000 37 Bonds Payable 150,0 150,000 0 38 Common Stock 200,000 200,000 0 Paid in Capital 100,000 100,0 Retain Earnings 500,000 700,000 200,000 Information Worksheet Cash Flow Statement + Select destination and press ENTER or choose Paste O J - + 90%ACT506_CTAssignment_Mod03_Option02-4 [Read-Only] [Shared] - Excel Julie McDermott X File Home Insert Page Layout Formulas Data Review View Developer Help ?Tell me what you want to do Share Y27 X B E M P U W Additional Information Push Corporation has 100% control of Sumer Corporation on 01/02/2017 ,000 Consolidated Income for 2017 Debit credit Push Corporation pays a $100,000 Dividend to stockholders Push Corporation Balance Sheet Summer Corporation reports income of $100,000 and pays Dividend of $50,000 in 2017 Dates 12/31/2016 12/31/2017 E. Push Corp sells land that it purchased in 20X1 for $50,000 to nonafflilate for $100,000 Cash 150,000 250,000 F Summer Corporation purchases additional equipment for 200,000 at end of 2017. Acct Rec 200,000 250,000 Inventories 150,000 175,000 pue 100,000 50,000 50,000 Buildings and Equipment 500,000 700,000 Good will 100,000 100,000 Total Debits 1,200,000 1,525,000 Entries to Perform: Acc Depreciation 200,000 300,000 100,000 Accts Payable 50,000 75,000 Cash Bonds Payable 150,000 150,000 Increase in Cash Common Stock 200,000 200,000 [Record Cash] Paid in Capital 100,000 100,000 Acc Rec Retain Earnings 500,000 700,000 Increase in Acc Rec [Record Acct Receivalbe] mnorcom 9 9 3 5 3 1,200,000 1,525,000 Inv Increase in inv Record Inventory] Cash Flows form Operating Activities Sale of Land Consolidated Income Land Depreciation Expense Gain on Sale [Record Gain on Land} Gain on Sale of Land Building and Equip Incr in Acct Recievable Acquistion of B&E Inc in Inventory Record Building Acquistion] Inc in accts payable Increase in A/P A/P Cash flows from Investing Activities Record Accts Payable] Acquistion of Equipment Retained Earnings Sale fo Land Dividend Record Dividend} Cash Flows from Financing Activities Consolidated Income Dividends paid to Stockholders R.E. Record Income to R.E.} 4 Increase in Cash Information Worksheet Cash Flow Statement O J - + 80%