Capital, 1 February 2019 Drawings Fixtures and fittings Equipment Accumulated depreciation of fixtures and fittings Accumulated depreciation of equipment Cash in Hand Hairdressing Fees Interest expense Wages and salaries Insurance expense Cash at bank (Cr) Rent income $ 16 000 1 900 30 000 25 200 6 000 1 320 750 38 100 500 23 900 3 850 910 12 300
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![Capital, 1 February 2019
Drawings
Fixtures and fittings
Equipment
Accumulated depreciation of fixtures and
fittings
Accumulated depreciation of equipment
Cash in Hand
Hairdressing Fees
Interest expense
Wages and salaries
Insurance expense
Cash at bank (Cr)
Rent income
5% loan from April Bank
Trade payables
Utilities expense
Discount received
Bank charges
$
16 000
1 900
30 000
25 200
6 000
1 320
750
38 100
500
23 900
3 850
910
12 300
15 000
600
4 200
120
50
Additional information
On 31 January 2020
(i) Annual insurance expense was $5 000.
(ii) Utilities expense paid in advance $700.
(iii) $500 rent income was earned but not yet collected.
(iv) 5% interest was charged on bank loan.
1 Owner paid half of the bank overdraft using his personal cheque.
2 One third of the bank loan is repayable on 30 June 2020.
REQUIRED
(a) Prepare the statement of financial performance for the year ended 31 January
2020.
(b) Prepare the statement of financial position at 31 January 2020.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F552f9bb1-a2ac-4daa-b8d7-81e339254325%2Fc03c1bd9-d4cf-408f-b55c-dae2b9af31a2%2Fcjmljsv_processed.jpeg&w=3840&q=75)
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- SydMel Ltd Statement of financial position As of 30 June 2020. 2020 2019 Assets Cash at Bank 18000 - Account Receivable 34000 28000 Inventories 112000 96000 Land 40000 80000 Buildings 120000 120000 Accumulated depreciation-Buildings (10000) (6000) Equipment 72000 60000 Accumulated depreciation-Equipment (30000) (18000) Total assets 356000 360500 Liabilities Account Payables 52000 48000 Bank Overdraft - 20000 Equity Share Capital 214000 200000 Retained Earnings 90000 92500 Total liabilities and equity 356000 360500 SydMel Ltd Statement of profit and loss and other comprehensive income For the year ended 30 June 2020. 2020 income $ $ Sales revenue - 445500 Less: expenses Cost of sales 288000 Employee expenses 78000 Interest expenses 5000 Loss on…The net income /loss= $7,425 1) prepared a classified statement of financial position. Assume that $18,360 of the bank loan payable will be payed in 2019.( list property, plant and equipment in order of land, building and equipment. List current assets in order of liquidity.)At August 31, 2022, Emma's trial balance included the following balances: $Machinery at cost 12,890Depreciation 8,950Inventory 5,754Trade receivables 11,745Trade payables 7,830Bank overdraft 1,675Cash at bank 150What is the value of Emma's current assets at 31 August 2022?
- Need a brief description for Assets distribution in Case Stuady 5 to 6 sentences ASSETS DISTRIBUTION END OF YEAR 2019 ASSETS Cash, cash equivalents & Investments $ 239,784 Accounts receivables & Prepaid expenses $ 54,458 Inventory $ 59,088 Fixed Assets $ 188,455 Goodwill & Trademarks $ 248,261 Other Assets $ 187,818 TOTAL $ 977,864Balance Sheet as at As at 30/9/16 As at 30/9/15 $ $ Assets Current assets- Cash 8,200 9,400 Accounts Receivable 107,000 103,500 Inventory 82,700 71,300 Non-current assets less accumulated depreciation 242,600 245,700 Total assets 440,500 429,900 Liabilities and Owners' equity Current liabilities 117,000 120,000 Loan (repayable in 2019) 152,000 150,000 Total liabilities 269,000 270,000 Owners' equity 171,500 159,900 Total Liabilities and Owners' equity 440,500 429,900 Summarised Income Statement of Bishan Enterprise for the year ended 30 September 2016 $ Sales 990,000 Cost of goods sold 580,000 Gross profit 410,000 Operating expenses 350,000 Net profit 60,000 · Note - The owner withdrew $48,400 during 2016. Required: Calculate…UTV Corp. have the following account balances for the year ended December 31, 2020:DEBIT BALANCESAmountCash and cash equivalents400,000Accounts receivable900,000Raw materials560,000Goods in process600,000Finished goods1,400,000Financial assets at FVOCI2,500,000Sinking fund200,000Land1,000,000Building6,000,000Plant and equipment2,400,000Patent800,000Goodwill1,400,000Unrealized loss – FVOCI100,000Prepaid benefit cost20,000Treasury shares at cost250,000TOTAL18,530,000 CREDIT BALANCESAmountBank overdraft100,000Due from an officer50,000Allowance for bad debts40,000Accumulated depreciation – building1,600,000Accumulated depreciation – plant and equipment400,000Notes payable, due June 30, 20211,300,000Notes payable, due June 30, 20222,100,000Accounts payable1,000,000Provision180,000Warranty liabilities80,000Income tax payable120,000Finance lease liability180,000Deferred tax liability280,000Actuarial gain300,000Revaluation surplus360,000Share capital6,000,000Share premium2,000,000Retained…
- Extract of Balance sheet items as at 31 December 2019 OR Building 35000 Account receivables 3500 Capital 120000 Closing Stock 5000 Short term Loan 3000 Bank overdraft 4500 Cash 500 Long term loan 7500 Machinery 1650 Account payables 5000 Accumulated Depreciation 1000 Short term Investments 200 Copy rights 4500 Drawings 1000 Retained Earnings 7150 Rent Payable 1800 Calculate Total Current Liabilities Select one: a. 11300 OMR b. 14300 OMR c. 6800 OMR d. 11800 OMRLife-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…Extract of Balance sheet items as at 31 December 2019 OR Equipment 20000 Account receivables 3500 Retained earnings 11500 Inventories 5000 Loan 3000 Bank overdraft 1500 Cash and bank 500 Mortgage loan 7500 Furniture 1650 Trade payables 6000 Accumulated Depreciation (Equipment) 1000 Short term Investments 200 Goodwill 4500 Drawings 1000 Capital 7150 Prepaid Expenses 1300 Calculate Total Net Assets(Total Assets)? Select one: a. 35350 OMR b. 34350 OMR c.35650 OMR d. 30350 OMR
- Below are the financial statements for the financial year 2020 and 2021. Statement of Financial Position as at January 31, 2019 and 2020 2021 2020 Current Assets Cash and cash balane:es 33,500 2,550 Account rocoivable 110.100 108,150 Inventories 17.000 7,140 Olher Teceivubles and prepaid experises 83,700 176.320 228.500 167,240 461,400 Fixod doposits with licenscd banks Total current assets 472,800 Properly, plant and cxquiprnenl 1,860,000 619,500 Total Assets 2,332,800 1,080,900 Current Liabilities Account Payables 60,400 27.410 Other payables and accriies expenses 65.600 56,390 Notes payables 27.800 46,800 Total current liabilities 153,800 130,600 Long term Liabilities Long term barrowings 490.500 144,700 Conveitible bonds 342.980 Hire purchase payables 106.920 76,600 Total long term liabilities 940,400 221,300 Shareholders' equity: Issued capital 253.500 201,000 Sharo promium 541.800 425.000 Retaincd carnings 443.300 103,000 Total liabilities and owners' equity 2,332,800 1,080,900Compute Net Operating Assets Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018Operating assets $31,669 $30,701Nonoperating assets 1,334 2,696Total assets $33,003 $33,397Operating liabilities $12,509 $12,035Nonoperating liabilities 21,902 20,271Total liabilities $34,411 $32,306Net sales $81,152 Operating expense before tax 69,505 Net operating profit before tax (NOPBT) 11,647 Other expense 731 Income before tax 10,916 Tax expense 2,576 Net income $8,340 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018. $ millions February 3, 2019 January 28, 2018Net operating assets (NOA) AnswerAnswerShafNita Sdn. Bhd. Statement of Financial Position as at 31 December Non Current Assets 2019 2020 RM RM RM. RM Building Fixtures less accumulated depreciation Van less accumulated depreciation 100,000 3,600 7.840 111,440 100,000 4,000 14.800 118,800 Current Asset Inventory Trade account receivable 11,200 12,800 1,800 24,800 16,400 Bank Cash 440 400 Total assets 26,240 41,600 Finance by: Саpital account: Balance at 1 January Add: Net profit for the year 137,680 160,400 74,080 70,400 105,080 42,320 20,000 Cash introduced Less: Drawings Non Current Liabilities Loan (repayable in 10 years time) 144,480 167,400 Current Liablities Account Payable (39.400) 105,080 (43.200) 124,200 Bank overdraft 20,000 30,000 Retained earnings Total liabilities and equity 12,600 6,012 188 32,600 36,200 137,680 160,400
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