1. Preparing an income Statement and a Balance Sheet of Allianzz Corp. for the Year Ended 3 1st Dec 2023. RM Accounts payable 4 400 Accounts receivable 2 500 Accumulated depreciation 4 200 Cash 3 300 Cost of goods sold 17 000 Common stock 13 800 Depreciation expense 1 500 Dividends 40 Gross fixed assets 24 500 Income taxes 15 Interest expense 1 000 Long-term debt 10 000 Number of shares outstanding 800 Other assets 15 600 Inventories 1 500 Retained earnings 8 000 Sales 30 000 Selling, marketing and administrative expenses 10 000 Short-term notes 7 000

1. Preparing an income Statement and a Balance Sheet of Allianzz Corp. for the Year Ended 3 1st Dec 2023. RM Accounts payable 4 400 Accounts receivable 2 500 Accumulated depreciation 4 200 Cash 3 300 Cost of goods sold 17 000 Common stock 13 800 Depreciation expense 1 500 Dividends 40 Gross fixed assets 24 500 Income taxes 15 Interest expense 1 000 Long-term debt 10 000 Number of shares outstanding 800 Other assets 15 600 Inventories 1 500 Retained earnings 8 000 Sales 30 000 Selling, marketing and administrative expenses 10 000 Short-term notes 7 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

ss
Balance Sheet for Dex Company and Ed Company on December 31, 2023 are as follows: Dex Company Ed Company Cash P850,000 P75,000 Other Assets 2,200,000 425,000 Total Assets P3,050,000 P500,000 Liabilities P1,200,000 P100,000 Common Stock, P50 par 2,000,000 - Common Stock, P10 par - 250,000 Additional Paid-in Capital 500,000 - Retained Earnings (600,000) 150,000 Total Liabilities and Equity P3,050,000 P500,000 On this date, Dex Company acquired 80% of the stock of Ed Company. Instructions: Prepare a consolidated balance sheet and the eliminating entries as of December 31, 2023, under each set of conditions listed below. Subsidiary stock is acquired in exchange for 5,000 shares of the parent company stock, and the investment accounts is recorded at P300,000, the current market value of the shares issued. The difference between the investment balance an the book value of the interest acquired is…
SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $365,700 in 2023 and $335,800 in 2022 Equity and Liabilities share capital-connen (137, 700 shares issued) Retained earnings (ote 1) Accrued liabilities sotes payable (current) Accounts payable Total egrity and liabilities Return on equity Note 1 Cash dividends were paid at the rate of $1 per share in 2022 and 52 per shore in 2023 Required: 1. Calculate the return on common there equity for 2022 and 2023. (Assurne total equity was $1,454,000 at December 31, 2021) (Round your answers to 1 decimal piace) 2022 23.4 $1,417,500 $1,417,500 417,700 10,300 22,700 59,500 2023 225 111,300 6,500 65,500 179,000 $1,937,700 $1,979,200 2. Calculate the book value per shares for 2022 and 2023 (Round your answers to 2 decimal places) 2022 XX S1254 S 13.31
Godo
Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023. Assume that the preferred shares are non-cumulative. Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2026 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse Current assets $ 26,760 40,200 11,140 22,280 9,400 20,600 Required: Prepare a classified balance sheet at December 31, 2023. (Enter all amounts as positive values.) Assets 122,000 79,400 41,600 127,600 34,600 110,200 40,200 28,720 282,100 138,800 SPICER INC. Balance Sheet December 31, 2023 K