1. From the following balances of Kalam Plc., as at 31.12.20 Prepare Financial statement. DEBIT CREDIT RO'000 RO'000 Trade receivables - Trade payables- Administration expenses Selling and Distribution Expenses - Dividend paid Interest paid- Audit fees Rent for office Revenue- Cost of sales- Motor vehicles (cost) Accumulated depreciation: Motor vehicles (1.1.20) Equipment (31.12.20) Accumulated depreciation: Equipment (1.1.20) Bank loan (10%) Retained earnings (1.1.20) Reserves and surplus Cash at bank Inventories (31.12.20) Share capital (£1) 2070 1800 2835 360 450 1440 162 22437 12960 15390 54 2430 62388 3519 32967 3240 5670 4500 4002 1200 7290 62388

1. From the following balances of Kalam Plc., as at 31.12.20 Prepare Financial statement. DEBIT CREDIT RO'000 RO'000 Trade receivables - Trade payables- Administration expenses Selling and Distribution Expenses - Dividend paid Interest paid- Audit fees Rent for office Revenue- Cost of sales- Motor vehicles (cost) Accumulated depreciation: Motor vehicles (1.1.20) Equipment (31.12.20) Accumulated depreciation: Equipment (1.1.20) Bank loan (10%) Retained earnings (1.1.20) Reserves and surplus Cash at bank Inventories (31.12.20) Share capital (£1) 2070 1800 2835 360 450 1440 162 22437 12960 15390 54 2430 62388 3519 32967 3240 5670 4500 4002 1200 7290 62388

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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From the following balances of Jamal Plc., as at 31.12.21 Prepare Financial statement. Administration expenses Selling and Distribution Expenses - Director's remunerations paid Motor vehicles (cost) Accumulated depreciation: Motor vehicles (1.1.21) Trade receivables - Trade payables - Interest paid - Revenue- Cost of sales- Equipment (31.12.21) Accumulated depreciation: Equipment (1.1.21) Audit fees Cash at bank Retained earnings (1.1.21) Reserves and surplus Share capital (£1) Dividend paid Inventories (31.12.21) Bank loan (10%) DEBIT CREDIT RO'000 RO'000 3600 5670 324 25920 4140 900 44874 30780 2880 108 720 4860 124776 6480 7038 65934 11340 8004 2400 14580 9000 124776
H1.
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Heritage Corporation's income statement and balance sheets are presented below. Heritage Antiquing Services Comparative Balance Sheet (dollars in thousands) Assets Current assets: Cash..... Accounts receivable, net Inventory......... Prepaid expenses Total current assets Property and equipment: Land ..….... Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued payables Notes payable, short term Total current liabilities. Long-term liabilities: Bonds payable Total liabilities. Stockholders' equity: Preferred stock. Common stock Additional paid-in capital Total paid-in capital. Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity Sales... Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses.. Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes…
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash $25,348 72,217 6,515 18,453 36,540 82,322 107,903 73,662 29,474 659,319 1,775 31,321 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? Oa. 0.8 Ob. 3.4 Oc. 16.5 Od. 2
Answer 1. The following were taken from the books of Amihan Company: Answer 2. Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Based on the above set of accounts, Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets determine total assets to be reported in the SFP. I determine total assets to be reported in the SFP. 2 determine total liabilities to be reported in the SFP. 3 Determine the balance of the Owner's Capital to be reported in the SFP. 4 Identify all the accounts with normal debit balances. Compute the total of all accounts with debi 5 Identify all the accounts with normal credit balances. Compute the total of all accounts with cre Property, Plant and Equipment Accounts Receivable Accumulated Depreciation 6 The Owner's Capital has a beginning balance of P 500,545. The owner gave P 100,000 additional c the year. Based on the Statement of…
Presented below is the comparative balance sheet for Pearl Company Pearl Company Comparative Balance Sheet As of December 31 Assets Accounts receivable net Short-terminants Inventories Prepaid expenses Plant & ment Accumulated depreciation Liabies and Stockholdersity Accounts payable Accrued Bonds payable Common stock Retiredning (a) Cash Your answer is partially correct Accounts receivable (net) Assets Short-term investments Investories Prepaid expenses Plant and equipment Accumulated depreciation Total Accrued operes Bonds payable (h) Prepare a comparative balance sheet of Pearl Company showing the percent each item is of the total asets or total liabilities and stockholders' equity Round percentages to 2 decimal places.eg 2.25%) Common stock Retained earnings Total Cash Liabilities and Stockholders Equity Accounts payable Assets Account receivable Inet Investments Inventories Prepaid expenses Plant and equipment Accumulated depreciation Total Accuedes Bonds payable Common stock…
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II. Fill-in the blanks and perform a Horizontal Analysis (HA) and Vertical Analysis (VA) on the following Balance Sheet and Income Statement Revenue Total Expenses Cost of Goods Sold SG Expenses Other Expenses Interest Expense Provision for Taxes Net Income Income Statement 2019 $82,135 32,574 15,931 11,304 3,210 4,536 Assets Cash and Marketable Securities Accounts Receivable Inventory Total Current Assets Property, Plant and Equipment Total Assets Liabilities and Stockholders' Equity Current Liabilities Long-Term Debt Total Liabilities Shareholders' Equity Total Liabilities and Equity VA Balance Sheet 2019 $12,095 15,700 18,324 15,000 $8,590 28,590 VA 2020 $94,571 35,872 16,782 10,947 4,015 5,200 2020 $15,035 14,200 18,540 17,008 $9,000 27,500 VA VA HA HA
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments $34,776 68,729 6,274 17,183 41,813 79,200 110,895 74,491 22,045 646,175 2,554 31,252 Based on the data for Harding Company, what is the amount of working capital? a. $198,918 b. $643,621 c. $997,801 Od. $135,823
Balance sheet Assets Non-current assets Property, plant and equipment Long-term receivables Total non-current assets Current Assets Goods Customers Cheques receivable Cash Total current assets Total assets Equity and Liabilities Equity Equity Reserves Total Equity Obligations Long-term liabilities Current Liabilities Suppliers Other current liabilities Taxes Payable Total Current Liabilities Total Liabilities Total Equity and Liabilities Sales Cogs Mixed result Staff remuneration Profit and loss statement Miscellaneous costs Depreciation Profit before tax Income Tax Net profit for the financial year The following data are given: • ● 2020 240.000,00 | 180.000,00 25.000,00 14.000,00 265.000,00 194.000,00 2021 55.000,00 40.000,00 125.000,00 135.000,00 62.000,00 71.000,00 183.000,00 160.000,00 425.000,00 406.000,00 690.000,00 600.000,00 200.000,00 170.000,00 92.000,00 60.000,00 292.000,00 230.000,00 55.000,00 30.000,00 730.000,00 -240.000,00 490.000,00 -114.000,00 -255.000,00 -60.000,00…
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