Company’s reported current year profit is Rs. 70000 after incorporating the following: Particulars Amount Particulars Amount Loss on Sale of Equipment 9000 Gain from sale of Assets 40000 Premium on Redemption of Debentures 1500 Provision for Tax 22000 Discount on issue of Debentures 2000 Dividend Income 4000 Depreciation on Machinery 20000 Transfer to General Reserve 5000 Depletion of Natural Resources 10000 Preliminary Expenses 1000 Interim Dividend 25000 Profit on Revaluation 2500 Loss on sale of Investment 1000   Find out the Funds from Operations.

Q: Upper Division of Lower Company acquired an asset with a cost of $645,000 and a four-year life. The…

A: The money that the business entity makes after deducting its capital costs is referred to as…

Q: Prepare the consolidated statement of financial position of Pa Ltd as at 30 June 2019.

A: Consolidation accounting is the process of combining the financial statements of a parent company…

Q: Loss of 21300 is incurreed in selling (for cash) office qeuipment that cost 89000 and had…

A: GAIN OR LOSS ON SALE OF ASSETS Gain or loss on disposal of an asset is the difference between the…

Q: Depreciation and Rate of Return Burrell Company purchased a machine for $31,000 on January 2, 2019.…

A: The deprecation under straight line method is calculated as:= (Cost of the asset - Residual Method)…

Q: lates as a year property. The Market value of the asset the end of year 6 is $40,000. the company's…

A: After-tax cash flow refers to the amount of money a business or individual has left over after…

Q: Jahlil Corporation has GAAP net income of $4,670,000,000. To compute Jahlil's AFSI, the following…

A: The amount of J Corporation's AFSI is computed as follows:Amount of AFSI = GAAP Net Income + Federal…

Q: Swifty Corporation's pre-tax accounting income of $748,000 for the year 2023 included the following…

A: Detailed explanation: Swifty's normalized earnings for 2023 were calculated by making adjustments to…

Q: Assume that it is January 1, 2019, and that the Mendoza Company is considering the replacement of a…

A: "Since you have asked a question with sub-parts more than three, as per guidelines, the first three…

Q: An equipment has been sold by 100,000 SR on cash, accumulated depreciation 200,000 SR, and Book…

A: Lets understand the basics. Gain or loss on the sale of asset is a gain or loss that are incurred…

Q: Upper Division of Lower Company acquired an asset with a cost of $620,000 and a four-year life. The…

A: Working Note #1 Cost of assets will increase by 10% every year Year Cost of Assets(Formula)…

Q: Provide the Correct answer

A: To calculate the net income after taxes, we need to follow these steps: Step 1: 1. Calculate…

Q: the Mexico facility at a pretax loss of $672,000. The applicable tax rate is 30%. Sh ity section of…

A: Income from Operations is the operating income less income tax expenses

Q: Upper Division of Lower Company acquired an asset with a cost of $560,000 and a four-year life. The…

A: ROI is called as return on investment. It is the ratio of net income to average investment.…

Q: The records for Ivanhoe Co. show this data for 2021: ●   Gross profit on installment sales recorded…

A: The part of an individual's or business's income that is subject to taxation is known as taxable…

Q: YOU CAN DO IT Corporation has equipment with a carrying value of 450,000 on December 31, 2021. The…

A: Solution: Impaired asset is an assets which is having market value less than the value listed on…

Q: Assume depreciation is calculated on a straight-line basis for tax purposes. Assume all cash flows…

A: 1a) Net Present Value =Sum of the present value of cash inflows-Present value of cash outflows.…

Q: Depreciation and accounting cash flow A fim in the thed year of depreciating is only asset, which…

A: The objective of this question is to calculate the operating cash flow (OCF) for the current year…

Q: What amount would be reported as the cash proceeds from the sale of equipment?

A: Carrying value of equipment sold = cost - accumulated depreciation of the equipment. =50,000 -…

Q: Jahlil Corporation has GAAP net income of $4,670,000,000. To compute Jahlil's AFSI, the following…

A: Solution:-Introduction:AFSI is the net income or loss on the taxpayer's applicable financial…

Q: Kraco Corporation reported net income of $450,000, including the effects of depreciation expense of…

A: The cash flow from operating activities includes the cash flow from regular activities of the…

Q: XORA Company engaged your services to compute the goodwill in the purchase of another company which…

A: Goodwill represents the intangible asset for the company and it shows the difference in the purchase…

Q: The following data are accumulated by Paxton Company in evaluating the purchase of $131,600 of…

A: Net present value is the excess of present of cash inflows to the cash outflows.

Q: MN.18.   An asset (according to the historical cost model) with a carrying amount as at December…

A: The historical cost model states that the fixed assets are reported at the original cost in the…

Q: 1. Wilkinson Company changed depreciation methods in 2023 from doubledeclining-balance to…

A: Under International Financial Reporting Standards (IFRS), a change in depreciation method is…

Q: (a) The entity sold some tangible non-current assets, which had a net book value of $200 million.…

A: Cash flow statement forms a part of financial statements and is prepared with a view to show the…

Q: The information regarding the fixed assets of Melcher Inc. as of December 31, 2020 below: Expected…

A: Impairment losses are recognized as costs on the income statement and diminish the book value of the…

Q: Seatle Company provided the following balances at the end of 2022: Wasting asset at cost…

A: The company issue share to the public, public purchases them and gives money to the company. The…

Q: What is the amount of the impairment loss that should be reported on Toni's income statement…

A: As per IAS 36 impairment loss is  Carrying Amount - Recoverable amount  Recoverable amount is higher…

Q: The following data are accumulated by Lingle Company in evaluating the purchase of $180,000 of…

A: Net present value method :- It is defined as the difference between the present value of cash…

Q: The following data are accumulated by Lingle Company in evaluating the purchase of $100,300 of…

A: ·       Time value of money states that the value of money decreases over time. ·       The…

Q: Bramble Corporation's pre-tax accounting income of $724,000 for the year 2023 included the following…

A: To calculate the normalized earnings amount for Bramble Corporation in 2023, we need to adjust the…

Q: 1, Net book value of the sold equipment 2. Depreciation expense for 2018 3. Purchase cost of the new…

A: Net book value of the equipment which has been sold by the entity during the period is the value of…

Q: The following data are accumulated by Geddes Company in evaluating the purchase of $131,900 of…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: The following data are accumulated by Paxton Company in evaluating the purchase of $131,600 of…

A: Net present value shows the excess of present value of cash inflows over cash outflows.

Q: CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ASSETS Current Assets Cash and cash equivalents Trade…

A: It is the estimated worth of an asset or liability on the open market under ideal conditions. It is…

Q: 1. Moneo Co. purchased equipment that was installed and ready for use at the beginning of January…

A: Lets understand the basics. When carrying value of asset is more than recoverable amount then…

Q: Value of Accelerated Depreciation: Sum-of-Years’-Digits (SYD) and Double-DecliningBalance (DDB)…

A: Depreciation is a charge calculated on the value of fixed assets, based on normal wear and tear due…

Q: The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Luo Company at…

A: Formula to calculate cash flow from sale of equipment:

Q: 19. In ABC Food Co.'s 2023 single-step income statement, the section titled "Revenues" consisted of…

A: Revenue is defined as any monetary payment received from a customer when an entity carries out its…

Q: Assume a company did not purchase any equipment during the year, but it did sell a piece of…

A: The correct answer is: (B) $225,000 The net cash provided by (used in) investing activities is…

Q: Prepare an income statement with the information listed below:   Accumulated Depreciation $ 35,000…

A: Income statement is the financial statement which is prepared by the entity for determining the…

Q: Phelm Corporation sold a piece of equipment for cash and recognized a gain of $5,000. The original…

A: Given the following information: Phelm Corporation sold a piece of equipment for cash and…