2023 2022 Accounts receivable 2,820,000 2,397,000 Advances to officers not currently due 180,000 140,000 Sinking fund 320,000 320,000 Long-term refundable deposit 140,000 160,000 Building 4,000,000 3,200,000 Accumulated Depreciation-building 1,600,000 1,400,000 Cash and cash equivalent 1,560,000 1,480,000 Cash surrender value 154,000 148,000 Equipment 1,200,000 800,000 Accumulated Depreciation-equipment 160,000 112,000 Lease rights 129,400 180,400 Accrued interest income 108,000 132,000 Land 2,000,000 1,840,000 Land held for speculation 1,200,000 400,000 Notes receivable 1,000,000 900,000 Computer Software 2,600,000 2,600,000 Prepaid expenses 164,000 180,000 Trading securities 524,000 500,000 Unearned rent income 32,000 56,000 Share retained earnings 4,367,400 2,637,400 Share premium preferences Share 480,000 320,000 Premium on bonds payable 800,000 880,000 Preference share capital 2,400,000 1,440,000 Share premium ordinary shares 240,000 120,000 Notes payable 240,000 400,000 SSS payable 8,000 80,000 Account payable 320,000 400,000 Accrued salaries 80,000 80,000 Bonds payable 4,000,000 4,800,000 Allowance for doubtful accounts 16,000 12,000 Dividend payable 300,000 200,000 Ordinary shares capital 4,000,000 3,200,000 Income tax payable 160,000 160,000 Preferences shares redemption fund 400,000 280,000 Freight-in 200,000 100,000 Purchases 6,000,000 4,680,000 Purchase return 20,000 40,000 Purchase allowances 10,000 68,000 Rent income 240,000 240,000 Freight-out 680,000 472,000 Salesmen commission 1,040,000 880,000 Depreciation expenses- building 200,000 200,000 Sales 12,560,000 10,120,000 Sales return 90,000 60,000 Sales allowances 30,000 16,000 Sales discounts 22,000 14,000 Officers salaries 1,040,000 960,000 Depreciation expense-equipment 48,000 42,000 Purchase discount 60,000 80,000 Loss on sale equipment 8,000 12,000 Loss on sale of securities 32,000 Interest income 24,000 24,000 Doubtful accounts 4,000 4,000 Additional information 2023 2022 Inventories at January 1 640,000 600,000 Inventories at December 31 500,000 640,000 The company disposed equipment costing (both of the equipment sold are 70% Depreciated 200,000 100,000 Dividends declared 300,000 200,000 Tax rate is 30% questions. Using the table above you are required to prepare and submit 1. Complete the statement of cash flow

2023 2022 Accounts receivable 2,820,000 2,397,000 Advances to officers not currently due 180,000 140,000 Sinking fund 320,000 320,000 Long-term refundable deposit 140,000 160,000 Building 4,000,000 3,200,000 Accumulated Depreciation-building 1,600,000 1,400,000 Cash and cash equivalent 1,560,000 1,480,000 Cash surrender value 154,000 148,000 Equipment 1,200,000 800,000 Accumulated Depreciation-equipment 160,000 112,000 Lease rights 129,400 180,400 Accrued interest income 108,000 132,000 Land 2,000,000 1,840,000 Land held for speculation 1,200,000 400,000 Notes receivable 1,000,000 900,000 Computer Software 2,600,000 2,600,000 Prepaid expenses 164,000 180,000 Trading securities 524,000 500,000 Unearned rent income 32,000 56,000 Share retained earnings 4,367,400 2,637,400 Share premium preferences Share 480,000 320,000 Premium on bonds payable 800,000 880,000 Preference share capital 2,400,000 1,440,000 Share premium ordinary shares 240,000 120,000 Notes payable 240,000 400,000 SSS payable 8,000 80,000 Account payable 320,000 400,000 Accrued salaries 80,000 80,000 Bonds payable 4,000,000 4,800,000 Allowance for doubtful accounts 16,000 12,000 Dividend payable 300,000 200,000 Ordinary shares capital 4,000,000 3,200,000 Income tax payable 160,000 160,000 Preferences shares redemption fund 400,000 280,000 Freight-in 200,000 100,000 Purchases 6,000,000 4,680,000 Purchase return 20,000 40,000 Purchase allowances 10,000 68,000 Rent income 240,000 240,000 Freight-out 680,000 472,000 Salesmen commission 1,040,000 880,000 Depreciation expenses- building 200,000 200,000 Sales 12,560,000 10,120,000 Sales return 90,000 60,000 Sales allowances 30,000 16,000 Sales discounts 22,000 14,000 Officers salaries 1,040,000 960,000 Depreciation expense-equipment 48,000 42,000 Purchase discount 60,000 80,000 Loss on sale equipment 8,000 12,000 Loss on sale of securities 32,000 Interest income 24,000 24,000 Doubtful accounts 4,000 4,000 Additional information 2023 2022 Inventories at January 1 640,000 600,000 Inventories at December 31 500,000 640,000 The company disposed equipment costing (both of the equipment sold are 70% Depreciated 200,000 100,000 Dividends declared 300,000 200,000 Tax rate is 30% questions. Using the table above you are required to prepare and submit 1. Complete the statement of cash flow

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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Question

	2023	2022
Accounts receivable	2,820,000	2,397,000
Advances to officers not currently due	180,000	140,000
Sinking fund	320,000	320,000
Long-term refundable deposit	140,000	160,000
Building	4,000,000	3,200,000
Accumulated Depreciation-building	1,600,000	1,400,000
Cash and cash equivalent	1,560,000	1,480,000
Cash surrender value	154,000	148,000
Equipment	1,200,000	800,000
Accumulated Depreciation-equipment	160,000	112,000
Lease rights	129,400	180,400
Accrued interest income	108,000	132,000
Land	2,000,000	1,840,000
Land held for speculation	1,200,000	400,000
Notes receivable	1,000,000	900,000
Computer Software	2,600,000	2,600,000
Prepaid expenses	164,000	180,000
Trading securities	524,000	500,000
Unearned rent income	32,000	56,000
Share retained earnings	4,367,400	2,637,400
Share premium preferences Share	480,000	320,000
Premium on bonds payable	800,000	880,000
Preference share capital	2,400,000	1,440,000
Share premium ordinary shares	240,000	120,000
Notes payable	240,000	400,000
SSS payable	8,000	80,000
Account payable	320,000	400,000
Accrued salaries	80,000	80,000
Bonds payable	4,000,000	4,800,000
Allowance for doubtful accounts	16,000	12,000
Dividend payable	300,000	200,000
Ordinary shares capital	4,000,000	3,200,000
Income tax payable	160,000	160,000
Preferences shares redemption fund	400,000	280,000
Freight-in	200,000	100,000
Purchases	6,000,000	4,680,000
Purchase return	20,000	40,000
Purchase allowances	10,000	68,000
Rent income	240,000	240,000
Freight-out	680,000	472,000
Salesmen commission	1,040,000	880,000
Depreciation expenses- building	200,000	200,000
Sales	12,560,000	10,120,000
Sales return	90,000	60,000
Sales allowances	30,000	16,000
Sales discounts	22,000	14,000
Officers salaries	1,040,000	960,000
Depreciation expense-equipment	48,000	42,000
Purchase discount	60,000	80,000
Loss on sale equipment	8,000	12,000
Loss on sale of securities	32,000
Interest income	24,000	24,000
Doubtful accounts	4,000	4,000

Additional information
	2023	2022
Inventories at January 1	640,000	600,000
Inventories at December 31	500,000	640,000
The company disposed equipment costing (both of the equipment sold are 70% Depreciated	200,000	100,000
Dividends declared	300,000	200,000
Tax rate is 30%

questions.

Using the table above you are required to prepare and submit

1. Complete the statement of cash flow

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