Chapter 17, Problem 3IFRP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

To determine: The section in which LV Company reports the interest paid.

(b)

To determine

The section in which LV Company reports the dividends received.

(c)

To determine

The difference in the treatment of bank overdrafts if LV Company reports under GAAP rather than IFRS.