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. 2019 Feb Q.No. 1 The following data are taken from the books of Resunga & Company (amount in thousands) are as follows: Liabilities Common stock Premium on stock Retained earnings Mortgage bonds payable Notes payable Account payable Accu. depreciation Total (Rs.) 31-12-17 (Rs.) 800 650 500 50 150 300 Sales Less: Cost of goods sold: Gross margin on sales Less: Operating expenses: Particulars Balance Sheet 31-12-18 (Rs.) Depreciation: Machinery Building 1100 110 672 1000 100 200 550 Assets Machinery Building Land Long-term investment Cash 2450 3732 Total (Rs.) Income Statement of the 31st December Marketable securities Account receivable Inventories 31-12-17 (Rs.) 700 400 70 220 570 100 250 140 2450 31-12-18 (Rs.) 100 160 1000 1200 70 140 630 212 290 190 3732 Amount (Rs.) Amount (Rs.) 1200 674 526

. 2019 Feb Q.No. 1 The following data are taken from the books of Resunga & Company (amount in thousands) are as follows: Liabilities Common stock Premium on stock Retained earnings Mortgage bonds payable Notes payable Account payable Accu. depreciation Total (Rs.) 31-12-17 (Rs.) 800 650 500 50 150 300 Sales Less: Cost of goods sold: Gross margin on sales Less: Operating expenses: Particulars Balance Sheet 31-12-18 (Rs.) Depreciation: Machinery Building 1100 110 672 1000 100 200 550 Assets Machinery Building Land Long-term investment Cash 2450 3732 Total (Rs.) Income Statement of the 31st December Marketable securities Account receivable Inventories 31-12-17 (Rs.) 700 400 70 220 570 100 250 140 2450 31-12-18 (Rs.) 100 160 1000 1200 70 140 630 212 290 190 3732 Amount (Rs.) Amount (Rs.) 1200 674 526

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. 2019 Feb Q.No. 1 The following data are taken from the books of Resunga & Company (amount in thousands) are as follows: Balance Sheet Liabilities Common stock Premium on stock Retained earnings Mortgage bonds payable Notes payable Account payable Accu. depreciation Total (Rs.) 31-12-17 (Rs.) 800 Sales Less: Cost of goods sold: Less: 650 500 50 150 300 31-12-18 (Rs.) Particulars Gross margin on sales Operating expenses: Depreciation: Machinery Building Assets Machinery Building Land 1100 110 672 1000 100 200 Marketable securities 550 Account receivable Inventories 2450 3732 Total (Rs.) Income Statement of the 31st December Long-term investment Cash 31-12-17 (Rs.) 700 400 70 220 570 100 250 140 2450 31-12-18 (Rs.) 100 160 1000 1200 70 140 630 212 290 190 3732 Amount (Rs.) Amount (Rs.) 1200 674 526
Transcribed Image Text:4. 2019 Feb Q.No. 1 The following data are taken from the books of Resunga & Company (amount in thousands) are as follows: Balance Sheet Liabilities Common stock Premium on stock Retained earnings Mortgage bonds payable Notes payable Account payable Accu. depreciation Total (Rs.) 31-12-17 (Rs.) 800 Sales Less: Cost of goods sold: Less: 650 500 50 150 300 31-12-18 (Rs.) Particulars Gross margin on sales Operating expenses: Depreciation: Machinery Building Assets Machinery Building Land 1100 110 672 1000 100 200 Marketable securities 550 Account receivable Inventories 2450 3732 Total (Rs.) Income Statement of the 31st December Long-term investment Cash 31-12-17 (Rs.) 700 400 70 220 570 100 250 140 2450 31-12-18 (Rs.) 100 160 1000 1200 70 140 630 212 290 190 3732 Amount (Rs.) Amount (Rs.) 1200 674 526
ACC 519: ACCOUNTING FOR FINANCIAL AND MANAGERIAL DECISIONS AND CONTROL 200 Other expenses Net income from operation Gain on sale of investment Net income with other gain Less: Loss on sale of machinery (Proceeds were Rs. 30). Net Income after loss adjustment Required: 19 3 460 66 24 90 10 80 Cash Flow statement showing Cash from operating activities, and Financing activities with interpretation. Identify the strengths and weaknesses of Resunga & Company based on cash flow statement. What strategies to be followed to achieve the competitive advantage and sustainable development of the Company? 4 Does the statement of cash flows have any managerial implication for the decision making? Ans: CFOA = Rs. 286; CFIA = (Rs. 1,016); CFFA = Rs. 902 CS CamScanner
Transcribed Image Text:ACC 519: ACCOUNTING FOR FINANCIAL AND MANAGERIAL DECISIONS AND CONTROL 200 Other expenses Net income from operation Gain on sale of investment Net income with other gain Less: Loss on sale of machinery (Proceeds were Rs. 30). Net Income after loss adjustment Required: 19 3 460 66 24 90 10 80 Cash Flow statement showing Cash from operating activities, and Financing activities with interpretation. Identify the strengths and weaknesses of Resunga & Company based on cash flow statement. What strategies to be followed to achieve the competitive advantage and sustainable development of the Company? 4 Does the statement of cash flows have any managerial implication for the decision making? Ans: CFOA = Rs. 286; CFIA = (Rs. 1,016); CFFA = Rs. 902 CS CamScanner
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