18. LO 4.5 From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit Credit $ 32,000 17,300 6,400 Cash Accounts receivable Prepaid insurance Land 10,000 Accounts payable Salaries payable $ 10,900 6,000 Common stock Retained earnings 31,000 4,200 Dividends 8,000 Service revenue 74,000 Insurance expense 5,600 Salaries expense Miscellaneous expense 24,000 22,800 126,100 126,100

18. LO 4.5 From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit Credit $ 32,000 17,300 6,400 Cash Accounts receivable Prepaid insurance Land 10,000 Accounts payable Salaries payable $ 10,900 6,000 Common stock Retained earnings 31,000 4,200 Dividends 8,000 Service revenue 74,000 Insurance expense 5,600 Salaries expense Miscellaneous expense 24,000 22,800 126,100 126,100

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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A company is considering two mutually exclusive investments with a discount rate of 10%.The cash flows of the projects over time follows: Time Project A Project B 0 - RM300,000 - RM405,000 1 - RM387,000 RM134,000 2 - RM193,000 RM134,000 3 - RM100,000 RM134,000 4 RM600,000 RM134,000 5 RM600,000 RM134,000 6 RM850,000 RM134,000 7 - RM180,000 RM0 A. What is the Net Present Value (NPV) for each project? B. Since the projects are mutually exclusive, which project would you recommend?Justify your recommendation. C. Suppose that the projects are independent projects, which project (s) would yourecommend? Justify your recommendation.
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