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Hey Expert! I cant figure out this question: Chapter. 11, problem 57P. Book: Introduction to Financial Accounting 11 th edid. Can you help me out
Hey Expert! I cant figure out this question: Chapter. 11, problem 57P. Book: Introduction to Financial Accounting 11 th edid.
Can you help me out with calucaltions, explanation?
Chapter 11, Problem 57P Bookmark Show all steps ON The 20X6 balance sheet of Dietrich Resources, Corp., contained the following three assets 20X6 $ 166.000 $ 941,000 $1.144.000 20X5 166,000 $ 861,000 $1,054,000 Long term debt investments held to maturity Investment in Modoc Mining Company, 43% owned Investment in Sutter Gold Company, 25% owned The long-term-debt investments were shown at cost, which equaled maturity value. Interest income was $16,000 for these debt investments, which had been owned for several years. The equity method was used to account for both Modoc Mining and Sutter Gold. Results for 20X6 included the following Modoc Mining Company Sutter Gold Company Dietrich Resources, Corp., pro rata share of net income $130,000 $90,000 Dietrich Resources received some dividends from affiliates. Estimate the dividend amounts using the pro rata share of net income and the changes in the investment accounts A schedule that reconciles net income to net cash provided by operating activities contained Net income $796,000 Depreciation 130,000 Increase in noncash working capital 15,000) Note: The increase in noncash working capital is the net change in current assets and liabilities other than cash Given the available data, complete the reconciliation of net income to cash from operationsStep by Step Solution
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