CRAM NOTES Flashcards
1
Q
When you have a loss or gain on equity and receive dividends - FV method
A
You either net them against or with each other
2
Q
Goodwill method partnership
A
When a new partner’s asset contribution is greater than the ownership interest s/he is to receive, the excess assets are accounted for as goodwill attributable to the old partners.
3
Q
Governmental Statement of Cashflows
A
- Noncapital financing activities: borrowing money not for construction
- Capital & related financing activities: proceeds from shit directly related to capital assets
- Investing activities:making and collecting loans (except program loans) and acquiring and disposing of debt or equity instruments
